HUD Wins Suspension Fight Against Mortgage Lender

By Kat Greene (August 5, 2014, 5:00 PM EDT) -- The U.S. Department of Housing and Urban Development on Tuesday won a Texas federal judge's approval of its suspension of one of the largest home loan lenders, with a ruling that the evidence showed the agency hadn't acted arbitrarily.

U.S. District Judge Gray H. Miller ruled that HUD presented a "litany of evidence" to show that Allied Home Mortgage Corp. and its President and CEO Jim Hodge consistently flouted agency regulations in a system that resulted in a high number of defaulted loans, according to the decision.

Hodge and Allied argued that Allied Corp. wasn't responsible for the actions of Allied...

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