| Feb 16, 2012 1:35PM A lawsuit filed against CITIMORTGAGE, INC, a subsidiary of CITIBANK, N.A. was filed in the U.S. District Court for Manhattan on Wednesday and simultaneously settled for $158.3 million. The suit, brought by the U.S. Attorney that District on behalf of the Department of Housing and Urban Development (HUD), charged the company, a participant in the Direct Endorsement Lender program administered by the FHA, had engaged in risky lending which had caused HUD, FHA's parent, to incur losses on certain loans... Feb 16, 2012 1:26PM At a press conference accompanying release of the results from its Fourth Quarter 2011 National Delinquency Study (NDS) , the Mortgage Banker Association's ( MBA ) Chief Economist and Senior Vice President for Research and Education Jay Brinkmann said he is frequently asked how long it might be before delinquencies and foreclosures return to "normal." He said he typically answers that "we are about halfway there." Delinquencies during "normal" times averaged around 5 percent but spiked to 10.1 during...
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