Removal of Lend America From The FHA Program and Ceasing of The Company's Operation
On November 30, 2009 the Federal Housing Administration announced that it will no longer back any of Lend America's loans based on the company's failure to document borrower's income and creditworthiness. In connection with this action, FHA Commissioner David Stevens stated that "The evidence in this case points to a disturbing pattern of senior officials and underwriters, either not knowing what they were doing, or not caring." On December 1, 2009, a day after the FHA announcement, Lend America abruptly announced that it was seizing all lending operations.
Read more about this topic: Lend America
Famous quotes containing the words removal of, removal, lend, america, program, ceasing, company and/or operation:
“Anyone who seeks for the true causes of miracles, and strives to understand natural phenomena as an intelligent being, and not to gaze at them like a fool, is set down and denounced as an impious heretic by those, whom the masses adore as the interpreters of nature and the gods. Such persons know that, with the removal of ignorance, the wonder which forms their only available means for proving and preserving their authority would vanish also.”
—Baruch (Benedict)
“Many a reformer perishes in his removal of rubbish,—and that makes the offensiveness of the class. They are partial; they are not equal to the work they pretend. They lose their way; in the assault on the kingdom of darkness, they expend all their energy on some accidental evil, and lose their sanity and power of benefit.”
—Ralph Waldo Emerson (1803–1882)
“Moneys is your suit.
What should I say to you? Should I not say,
“Hath a dog money? Is it possible
A cur can lend three thousand ducats?” Or
Shall I bend low and in a bondman’s key,
With bated breath and whispering humbleness,
Say this:
“Fair sir, you spat on me on Wednesday last,
You spurned me such a day, another time
You called me dog; and for these courtesies
I’ll lend you thus much moneys?””
—William Shakespeare (1564–1616)
“In Europe art has to a large degree taken the place of religion. In America it seems rather to be science.”
—Johan Huizinga (1872–1945)
“The only thing that was dispensed free to the old New Bedford whalemen was a Bible. A well-known owner of one of that city’s whaling fleets once described the Bible as the best cheap investment a shipowner could make.”
—For the State of Massachusetts, U.S. public relief program (1935-1943)
“Being an artist means ceasing to take seriously that very serious person we are when we are not an artist.”
—José Ortega Y Gasset (1883–1955)
“... possibly there is no needful occupation which is wholly unbeautiful. The beauty of work depends upon the way we meet it—whether we arm ourselves each morning to attack it as an enemy that must be vanquished before night comes, or whether we open our eyes with the sunrise to welcome it as an approaching friend who will keep us delightful company all day, and who will make us feel, at evening, that the day was well worth its fatigues.”
—Lucy Larcom (1824–1893)
“It is critical vision alone which can mitigate the unimpeded operation of the automatic.”
—Marshall McLuhan (1911–1980)