January 9, 2019
Lennar subsidiary Eagle Home Mortgage is in hot water yet again.
Just a month after settling charges
with the Department of Justice
for failing to comply with FHA lending standards, a new lawsuit brings the lender back into the crosshairs of justice.
According to a lawsuit filed in November, Eagle Home Mortgage falsified borrower documents to increase the likelihood of approval, approved borrowers who were unqualified, and hid negative findings on audited loans from regulators.
Read more here.
But Eagle is apparently still desirable, despite the pending lawsuit. On Wednesday, HousingWire reported that Movement Mortgage
is buying Eagle’s retail operations
from Lennar, although it should be noted that the lawsuit in question deals with the in-house builder mortgage division of Eagle Home, which is remaining part of Lennar. Movement Mortgage is only buying Eagle Home’s retail operations, which are not part of the lawsuit.