HUD

HUD vs KB Home

• KB Home Mortgage 2005 –  Record $3.2 million dollar settlement  

From HUD publication “13 alleged violations by KB Mortgage Company involve a number of poor underwriting practices such as approving loans to borrowers who were not eligible; approving loans based on overstated or incorrect income; failing to include all of borrowers’ debts; failing to properly verify sources of funds; and, failing to ensure gift letters met HUD requirements.”  

HUD Archives HUD ANNOUNCES $3.2 MILLION SETTLEMENT AGAINST KB HOME MORTGAGE COMPANY

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• Another HUD settlement – 2005 – Alleged RESPA violations.  KB Home Mortgage and Westview (subsidiary of KB ) ends in settlement.“prohibit the giving or accepting of any fee, kickback or thing of value pursuant …”doc_19719