[Federal Register Volume 65, Number 122 (Friday, June 23, 2000)]
[Notices]
[Pages 39171-39172]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-15859]


-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4558-N-02]


Mortgagee Review Board; Administrative Actions

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, 
notice is hereby given of the cause and description of administrative 
actions taken by HUD's Mortgagee Review Board against HUD-approved 
mortgagees.

FOR FURTHER INFORMATION CONTACT: Phillip A. Murray, Director, Office of 
Lender Activities and Program Compliance, Room B-133-3214 Plaza, 451 
7th Street, SW, Washington, DC 20410, telephone: (202)708-1515. (This 
is not a toll-free number.) A Telecommunications Device for Hearing and 
Speech-Individuals (TTY) is available at 1-800-877-8339 (Federal 
Information Relay Service).

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), notice is hereby given of 
administrative actions that have been taken by the Mortgagee Review 
Board from October 1, 1999 through March 31, 2000.
    1. 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.

                      Title I--Lenders Withdrawn Between October 1, 1999 and March 31, 2000
----------------------------------------------------------------------------------------------------------------
                   Lender name                                City                           State
----------------------------------------------------------------------------------------------------------------
Abundant Financial Inc..........................  Inglewood..................  CA
American Financial Resources Inc................  Phoenix....................  AZ

[[Page 39172]]

 
Ameritex Residential Mtg Inc....................  Hurst......................  TX
First Federal Bancorp...........................  Pomona.....................  CA
Gibraltar Financial Corp........................  Santa Ana..................  CA
Michigan Mortgage Lenders Corp..................  Bloomfield Hills...........  MI
Mid-America Loan--Mtg Co Inc....................  Hot Springs................  AR
One Stop Loan Shop Inc..........................  Studio City................  CA
RC Mortgage Inc.................................  Rancho Cucamonga...........  CA
Rockwell Equities Inc...........................  Old Brookville.............  NY
Shamrock Corp dba AMS America's Mtg Serv........  Carlsbad...................  CA
Total Financial Services Inc....................  Palm Desert................  CA
United Mortgagee Inc............................  Virginia Beach.............  VA
----------------------------------------------------------------------------------------------------------------


                    Title II--Mortgagees Withdrawn Between October 1, 1999 and March 31, 2000
----------------------------------------------------------------------------------------------------------------
                 Mortgagee name                               City                           State
----------------------------------------------------------------------------------------------------------------
Affordable Home Mortgage Loans Inv Inc..........  Port Charlotte.............  FL
Ameritex Residential Mtgs Inc...................  Hurst......................  TX
Casa Financial DE America.......................  Modesto....................  CA
Community Home Mortgage Inc.....................  Macon......................  MO
First Federal Bancorp dba American Mtg..........  Pomona.....................  CA
Gibraltar Financial Corp........................  Santa Ana..................  CA
Home Financial Services Inc.....................  Berwyn.....................  IL
Home Lending LC.................................  Landover...................  MD
Hyde Park Cooperative Bank......................  Hyde Park..................  MA
John Dennis Inc.................................  Ventura....................  CA
M Capital Corp..................................  Orange.....................  CA
Mortgage Place..................................  Oklahoma City..............  OK
One Stop Loan Shop Inc..........................  Encino.....................  CA
RC Mortgage Inc.................................  Rancho Cucamonga...........  CA
Rockwell Equities Inc...........................  Jericho....................  NY
Sovereign Mortgage Group Inc....................  Atlanta....................  GA
Sun America Mortgage Corp.......................  Covina.....................  CA
WSB Mortgage Co of NJ Inc.......................  West Milford...............  NJ
----------------------------------------------------------------------------------------------------------------


William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner, Chairman 
Mortgagee Review Board.
[FR Doc. 00-15859 Filed 6-22-00; 8:45 am]
BILLING CODE 4210-27-P