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The lawsuit alleges the FHA paid hundreds coach outlet store of millions of dollars on insurance claims on thousands of defaulted mortgages as a result of false certifications by Wells Fargo, the fourth-biggest U. S. bank as measured by assets.
"As the complaint alleges, yet another major bank has engaged in a longstanding and reckless trifecta of deficient training, deficient underwriting coach outlet and deficient disclosure, all while relying on the convenient backstop of government coach factory store insurance, " said Manhattan U. S. Attorney Preet Bharara. Wells, the largest U. S. mortgage lender, denied the allegations coach outlet store online and said in a statement it believes it acted in good faith and in compliance with FHA and U. S.
Department of Housing and Urban Development rules. The bank said many of the allegations have been previously addressed with HUD and added coach outlet online store that its FHA delinquency rates have been as low as half the industry average.
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