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Notice

Mortgagee Review Board; Administrative Actions

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Information about this document as published in the Federal Register.

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Start Preamble

AGENCY:

Office of the Assistant Secretary for Housing-Federal Housing Commissioner, HUD.

ACTION:

Notice.

SUMMARY:

In compliance with section 202(c) of the National Housing Act, this document provides notice of the cause and description of administrative actions taken by HUD's Mortgagee Review Board against HUD-approved mortgagees.

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FOR FURTHER INFORMATION CONTACT:

Phillip A. Murray, Director, Office of Lender Activities and Program Compliance, Room B-133-3214 L'Enfant Plaza, 451 Seventh Street, SW, Washington, DC 20410, telephone: (202) 708-1515. (This is not a toll-free number.) A Telecommunications Device for Hearing and Speech-Impaired Individuals (TTY) is available at 1-800-877-8339 (Federal Information Relay Service).

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SUPPLEMENTARY INFORMATION:

Section 202(c)(5) of the National Housing Act (added by section 142 of the Department of Housing and Urban Development Reform Act of 1989, Pub. L. 101-235, approved December 15, 1989) requires that HUD publish a description of and the cause for administrative actions against a HUD-approved mortgagee by the Department's Mortgagee Review Board. In compliance with the requirements of section 202(c)(5), this document gives notice of administrative actions that have been taken by the Mortgagee Review Board from October 1, 2001 through March 31, 2002, for failure to submit the required annual audit statement, an acceptable annual audited financial statement, and/or the required annual recertification fee.

Title I Lenders and Title II Mortgagees That Failed To Comply With HUD/FHA Requirements for the Submission of an Audited Annual Financial Statement and/or Payment of the Annual Recertification Fee

Action: Withdrawal of HUD/FHA Title I lender approval and Title II mortgagee approval.

Cause: Failure to submit to the Department the required annual audited financial statement, an acceptable annual audited financial statement, and/or remit the required annual recertification fee.

66 Title I Lenders and Loan Correspondents Terminated Between October 1, 2001 and March 31, 2002

Lender nameCityState
A S H ELITE FUNDING CORPLOS ANGELESCA
AEGIS SECURITIZED ASSETS INCMARIETTAGA
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ALAMOGORDO FEDERAL S-L ASSNALAMOGORDONM
ALL PACIFIC FINANCIAL INCENCINOCA
ALLIED LENDING CORPORATIONTUSTINCA
ANCHORBANC MORTGAGE CORPORATION WESTCONVINACA
APEX MORTGAGE CORPORATIONSTANTONCA
ARBOR LENDING CORPMIAMIFL
BANKERS MORTGAGE GROUPWOODLAND HILLSCA
CALIF CHARTERED GROUP FINANCIAL CORPDIAMOND BARCA
CAPITAL ACCEPTANCE CORPORATIONINDIANAPOLISIN
CITYWIDE BANKSAURORACO
CONSORCIO LENDING INCFONTANACA
COOP AHY CR EMPL PUEBLO INCCAROLINAPR
CRUSADER BANKPHILADELPHIAPA
DARWAL CORPORATIONOXNARDCA
EAGLE FUNDING CORPORATION RANCHOCORDOVACA
EAST WEST FINANCIAL CORPMARGATEFL
EXPRESS FINANCIAL CORP BOCARATONFL
F AND M BANKWATERTOWNSD
FIRST CALIFORNIA LENDING SERVCOVINACA
FIRST CHOICE LOANS INCCOVINACA
FIRST FREEDOM FINANCIAL INC RANCHOCUCAMONGACA
FIRST NATIONAL BANKTONKAWAOK
FIRST SECURITY STATE BANKDETROIT LAKESMN
FIRST SUBURBAN CORP MTG BANKERSSANTA ANA HEIGHTSCA
FUNDING CENTRE INCFAIR OAKSCA
GIBRALTAR SAVINGS BANK SLANEWARKNJ
HEARTLAND COMMUNITY BANKCAMDENAR
HERITAGE PLAZA MORTGAGE INCSTOCKTONCA
HILTON FINANCIAL GROUPVICTORVILLECA
INTERBANK FUNDING GROUPSAN DIEGOCA
INTERSTATE MORTGAGE ALLIANCE CORPRANCHO CUCAMONGACA
LAMAS LOANS INCPLEASANTONCA
LEGEND FINANCIAL GROUP INCPOWAYCA
LENDERS SPECTRUM MORTGAGE CORPLAKE ELSINORECA
M AND I LAKEVIEW BANKSHEBOYGANWI
MAINSTREET MORTGAGE MAKERS INCROSWELLGA
MERIT MORTGAGE INCPLANOTX
MORTGAGE MAX INCPOWAYCA
MORTGAGE ONE CORPORATIONHESPERIACA
N I PACIFICA INCCOSTA MESACA
NATIONAL EXPRESS MORTGAGE CORPLA PALMACA
NATIONS MORTGAGE CORPORATIONWINTER SPRINGSFL
NEWWEST MORTGAGE CODOWNEYCA
NTM INCTURLOCKCA
OLYMPIAN MORTGAGE CORPTAMPAFL
PAVON FINANCIAL CORPORATIONDOWNEYCA
PENINSULA COMMUNITY FED CUSHELTONWA
PEOPLES BANKMARIONKY
POWER FUNDING GROUP INCWILLIAMSVILLENY
QUEST HOME LOANS INCOXNARDCA
RAVENNA SAVINGS BANKRAVENNAOH
SALIDA BUILDING AND LOAN ASSOCIATIONSALIDACO
SEASONS MORTGAGE GROUP INCRICHMONDVA
SECURITY SAVINGS ASSNHAZELTONPA
SMC LENDING INCTEMECULACA
SOUTHERN CAPITAL RESOURCESBIRMINGHAMAL
SOUTHERN MORTGAGE INVESTMENT CORPMARIETTAGA
SUPERIOR BANK FSB OAKBROOKTERRACEIL
TUCKER FEDERAL BANKAUGUSTAGA
U S MORTGAGE AND ACCEPTANCE CORPTUSTINCA
ULTIMATE FUNDING CORPTUSTINCA
VPM FUNDING COMPANYDENVERCO
WESTLEND FINANCING INCLOS ANGELESCA

94 Title II Mortgagees and Loan Correspondents Terminated Between October 1, 2001 and March 31, 2002

Mortgagee nameCityState
ACCESS FINANCIAL GROUPFOUNTAIN VALLEYCA
ALAMOGORDO FEDERAL SAVINGS AND LN ASSNALAMOGORDONM
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AMERICAN CHARTER MORTGAGEDOWNEYCA
AMERICAN HOMEBUYING CENTER INCLA PALMACA
AMERIPRIDE MORTGAGE INCCORAL SPRINGSFL
ARBOR LENDING CORPMIAMIFL
BAYPORT MORTGAGE LPLAKEWOODWA
BELL MORTGAGE CORPCHINOCA
BINH DINH TRANHUNTINGTON BEACHCA
BLAIR MORTGAGE COMPANY INCORPDANVILLECA
BUILDERS MORTGAGE SERVICES LPALTAMONTE SPRINGSFL
CALIFORNIA CHARTERED GROUP FINDIAMOND BARCA
CALIFORNIA WHOLESALE LENDERS INCNEW HALLCA
COMMERCE BANK OF AURORAAURORACO
COMMUNITY MORTGAGE CORPHAGATNAGU
COUNTY BANKFOREST LAKEMN
CRB TRUST MORTGAGE LTDMIAMIFL
DACKO FINANCIAL INCPAHRUMPNV
DICKINSON LOGAN TODD BARBERRALEIGHNC
EAGLE FUNDING CORPORATIONRANCHO CORDOVACA
EDGR FINANCIAL INCOFALLONMO
FAMILY HOME MORTGAGE CO INCDANBURYCT
FEDERAL MORTGAGE FUNDING INCLEMON GROVECA
FIDELITY FINANCIAL MORTGAGE CORPNORCROSSGA
FINANCE PLUS REAL ESTATECHULA VISTACA
FIRESIDE MORTGAGE COENGLEWOODCO
FIRST AMERICANS MORTGAGE CORPOVERLAND PARKKS
FIRST CHOICE LOANS INCCOVINACA
FIRST FEDERAL SAVINGS AND LOANGALIONOH
FIRSTLINE MORTGAGE INCLONG BEACHCA
FREESTATE MORTGAGE COMPANY INCTOWSONMD
GENESIS MORTGAGE CORPORATIONEVANSTONIL
GLOBAL HOLDINGS II LLCKIRKLANDWA
GRAFTON SUBURBAN CREDIT UNIONNORTH GRAFTONMA
GUARDIAN SAVINGS AND LOAN ASSOCIATIONHOUSTONTX
HARRIS-CHAMBERLAIN COMPANYFORT WORTHTX
HILTON FINANCIAL GROUPVICTORVILLECA
HOME FUNDING GROUP INCWALNUTCA
HOMEQUEST MORTGAGE CORPORATIONNEWPORT BEACHCA
HOMESTEAD SAVINGS BANK FSBALBIONMI
HUDSON RIVER MORTGAGE CORPORATIONALBANYNY
IAG MORTGAGE SERVICESTEMPLETX
INDEPENDENT ADVISORS MTG CORPBLOOMINGDALEIL
INTERBANK FUNDING GROUPSAN DIEGOCA
INTERNATIONAL BROTHERHOOD WKRSWASHINGTONDC
IROQUOIS FEDERAL SAVINGS AND LOAN ASSNWATSEKAIL
K AND R FINANCIAL INCLARGOFL
KATY FINANCIAL SERVICES LPKATYTX
KINGWAY CAPITAL INCWESTLAKE VILLAGECA
LAMAS LOANS INCPLEASANTONCA
LAUREL SAVINGS BANKALLISON PARKPA
LENDERS SPECTRUM MORTGAGELAKE ELSINORECA
LIBERTY FEDERAL BANK S BEUGENEOR
LILAC CITY MORTGAGE INCSPOKANEWA
LOANCOR INCCARLSBADCA
LOANGENIE-COM INCIRVINECA
MCA MORTGAGE CORPORATIONSOUTHFIELDMI
MEMBERS LOAN SERVICESSAN DIEGOCA
MERIT FINANCIAL CORPORATIONPARSIPPANYNJ
MIDWEST MORTGAGE CONNECTION INCLAKE IN THE HILLSIL
MILE HIGH MORTGAGE SERVICES LLLPDENVERCO
MORNING STAR REAL EST AND MTG FIN CORPMASSAPEQUANY
MORTGAGE CLIK INCALBUQUERQUENM
OLYMPIAN MORTGAGE CORPORATIONTAMPAFL
PAVON FINANCIAL CORPORATIONDOWNEYCA
PEOPLES MORTGAGE COMPANY LPLAREDOTX
PERMANENT FEDERAL SAVINGS BANKEVANSVILLEIN
PLUM CREEK FINANCIAL CORPCASTLE ROCKCO
PONCE DE LEON FEDERAL SAVINGS AND LOANCORAL GABLESFL
PRESTAR FINANCIAL CORPORATIONSANTA ANACA
PRIME TIME LENDING INCCARLSBADCA
PROGRESSIVE MORTGAGE CORPELK GROVECA
ROYAL MORTGAGE PARTNERS LPORANGECA
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SALCORP MORTGAGAELAGUNA HILLSCA
SALIDA BUILDING AND LOAN ASSOCIATIONSALIDACO
SAMMELMAN MORTGAGE INCWES COVINACA
SIMPLIFIED MORTGAGE GROUP INCTROYMI
SMC LENDING INCTEMECULACA
SOMMERS FINANCIAL INCLONG BEACHCA
SOUTHERN FIRST MORTGAGE CORPDURHAMNC
STARNET MORTGAGEDALLASTX
SUGAR BEACH LLCMEMPHISTN
SUPERIOR BANK FSBOAKBROOK TERRACEIL
TAYLOR COUNTY BANKCAMPBELLSVILLEKY
TDC MORTGAGE CORPLAS VEGASNV
TRINITY MORTGAGE CO OF DALLASLAFAYETTEIN
ULTIMATE FUNDING CORPTUSTINCA
UNI-STATE FUNDING INCBIG BEAR LAKECA
US MORTGAGE CAPITAL INCROCKVILLEMD
WALDOBORO BANK FSBWALDOBOROME
WASHINGTON MORTGAGE INVESTMENT CORPROCKVILLEMD
WASHINGTON SAVINGS ASSOCIATIONPHILADELPHIAPA
WENTWORTH ENTERPRISES INCFREMONTCA
WESTERN HILLS MORTGAGE CORPGARDEN GROVECA
Start Signature

Dated: June 26, 2002.

John C. Weicher,

Assistant Secretary for Housing-Federal Housing Commissioner, Chairman, Mortgagee Review Board.

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[FR Doc. 02-16515 Filed 6-28-02; 8:45 am]

BILLING CODE 4210-27-P