Residential Home Mortgage Corp. admits to FHA mortgage fraud; agrees to pay $1.67 million

Residential Home Mortgage Corp., a mortgage lender based in New Jersey, committed Federal Housing Administration mortgage fraud by falsely certifying that certain loans qualified for FHA mortgage insurance, the company admitted in court this week. Residential Home Mortgage’s admittance came as part of a settlement with the Department of Justice, which will see the lender pay a fine of $1.67 million for its actions.
Source: HousingWire Magazine