FIFTY ONE? No, that is not a misprint:
Senior federal housing officials say that of 51 loans made under the program, 50 were made by Melville, N.Y.-based Lend America, and those 50 loans are being held up pending ongoing federal investigations. The officials, who insisted on anonymity because they are not authorized to speak on the matter, declined to offer specifics except to say anything from inadequate documentation to unethical practices could be the focus of the queries.
Remember, "Hope for Homeowners" was supposed to help four hundred thousand people stay in their homes.
The net closed loan count is fifty one over a period of six months.