At FHA, Odd Accounting Burnished Stevens' Image

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At FHA, Odd Accounting Burnished Stevens’ Image

At FHA, Odd Accounting Burnished Stevens’ Image

An “unprecedented crackdown.” That’s how Commissioner David Stevens described a get-tough program that took place under him at the Federal Housing Administration from mid-2009 until April of this year. As part of the push, the FHA’s Mortgage Review Board issued more administrative actions against lenders in Stevens’ first year than it had in the prior eight years combined.

[AMERICAN BANKER]

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