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HUD Paid $1B For Incorrect Mortgage Claims, Report Says

By Daniel Wilson (September 20, 2012, 9:29 PM EDT) -- The U.S. Department of Housing and Urban Development paid more than $1 billion for nearly 12,000 "preforeclosure" sale claims that didn't meet a preforeclosure program's requirements, the agency's auditor said in a report released Tuesday....

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