The U.S. Department of Housing and Urban Development published a Federal Register Notice of actions taken by its Mortgagee Review Board between April 27 and Aug. 31. Companies that actions were taken against companies agreed to fines that collectively exceeded $700,000. Among the actions reported, America's Mortgage Resource agreed to pay HUD $64,000 because it failed to ensure that borrowers received gift funds from acceptable sources. The company also failed to adopt a Quality Control Plan as required by the agency.
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