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HUD Ignored Procedures in Selling Distressed Mortgages, Report Says

HUD Ignored Procedures in Selling Distressed Mortgages, Report Says

(limited access) “This is kind of huge,” said Elizabeth Lynch, a lawyer with Mobilization for Justice Inc. in New York. Her group filed a lawsuit that contends that the loan sales disproportionately affected minority homeowners.

“This is an $18 billion program that has ramifications for stakeholders, and they didn’t notice and comment.”

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