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HUD Sanctions Dallas Lender, One of Seven Nationwide

DALLAS-American Investment Mortgage is barred for five years as a FHA lender. HUD's review board alleges the Dallas firm has maintained an improper branch network plus allowed a satellite office to submit loans before it had been approved as an originator.

By Connie Gore | Updated on November 22, 2000

DALLAS-American Investment Mortgage Inc. in Dallas is one of seven lending institutions being penalized by HUD for violations of Federal lending practices.

American Investment Mortgage’s FHA approval authority has been suspended for five years for operating branch offices under an improper branch network and allowing a branch office to submit loans before being approved to originate FHA loans.

Other sanctioned operations are American SkyCorp Inc., Timonium, MD; Assurety Mortgage Group Inc., Decatur, GA; DMR Financial Services Inc., Farmington Hills, MI; National Charter Mortgage Corp., Gardena, CA; SMN Mortgage Corp., Rio Piedras, PR and Twins Inc., Columbia, SC.

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