American Investment Mortgage's FHA approval authority has beensuspended for five years for operating branch offices under animproper branch network and allowing a branch office to submitloans before being approved to originate FHA loans.
Other sanctioned operations are American SkyCorp Inc., Timonium,MD; Assurety Mortgage Group Inc., Decatur, GA; DMR FinancialServices Inc., Farmington Hills, MI; National Charter MortgageCorp., Gardena, CA; SMN Mortgage Corp., Rio Piedras, PR and TwinsInc., Columbia, SC.
The most severe levy has been placed against the MD-basedAmerican SkyCorp., which is being fined $220,000 and facing afive-year FHA revocation. According to HUD, the operation hasfailed to ensure that borrowers qualify for FHA-insuredmortgages.
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