Friday, June 18, 2010

One FHA Lender Caused $3 Billion FHA Loan Loss.

Fortune has story HERE about arrest of Lee Farkas, the head of the non defunct FHA lender Taylor Bean. Story says:
Officials said the FHA and Ginnie Mae, another government mortgage lender, lost some $3 billion in the Taylor Bean fraud. It is the FHA program's biggest-ever loss, they said.
Originally created and posted on the Oregon Housing Blog

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