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Lennar Corp. subsidiary Eagle Home Mortgage had high FHA delinquency rate before Department of Justice subpoena – South Florida Business Journal

Lennar’s mortgage subsidiary is under investigation by the Department of Justice over underwriting related to Federal Housing Administration loans, the major U.S. homebuilder disclosed Thursday.

Lennar’s mortgage division slapped by Justice Department. Quicken Loans is currently fighting the Justice Department over a similar issue. Lennar shares have gained more than 52% over the past 12 months, beating the 23.5% increase for the S&P 500 index [s:spx].

Justice Department Investigating Lennar Mortgage Unit. FHA lending at issue. Jan. 25, 2018. By Mortgage Daily staff. The mortgage subsidiary of home builder Lennar Corp. is being investigated over its handling of the lending process on government-insured loans.

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Despite Carson’s proclamations, the DOJ is apparently investigating Eagle Home Mortgage and its FHA lending process. Lennar revealed the investigation in a Securities and Exchange Commission filing.

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Eagle Home Mortgage, the mortgage lending subsidiary of Lennar, could find itself on a list that includes wells fargo, Walter Investment, United Shore Financial Services, PHH, and many other lenders that were sanctioned by the government for underwriting mortgages that did not meet Federal housing administration standards.