ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, August 31, 1993                   TAG: 9308310309
SECTION: BUSINESS                    PAGE: B8   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                 LENGTH: Short

IRREGULARITIES TO COST 13 MORTGAGE LENDERS

Thirteen mortgage lenders, including one in Virginia, were cited Monday for irregular actions and will reimburse the government a total of $1.2 million.

The Department of Housing and Urban Development said the irregularities include overinsured mortgages, failure to comply with requirements of the Home Mortgage Disclosure Act, improper loan practices and receiving improper payments. It was the first citation for each institution, HUD said.

The largest settlement was $400,000 from Broekema & Associates of San Diego.

United Southern Mortgage Co. of Charlottesville will pay HUD $2,806. - Associated Press 


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