HUD’S MORTGAGEE REVIEW BOARD SUSPENDS SECKEL CAPITAL, LLC

WASHINGTON – (RealEstateRama) — The U.S. Department of Housing and Urban Development today announced that the Department’s Mortgagee Review Board (MRB) is immediately suspending Pennsylvania-based mortgage lender Seckel Capital, LLC from originating and underwriting new mortgages insured by the Federal Housing Administration (FHA). In addition, HUD’s Departmental Enforcement Center suspended owner John Seckel from doing business with the Federal government.

HUD - U.S. Department of Housing and Urban Development

These actions are the result of an investigation by HUD into the financial practices of Seckel and his company, based in Newtown, Pennsylvania. Specifically, that Seckel knowingly and fraudulently submitted false financial statements to the government certifying there were audited by an independent accounting firm when, in fact, they were not.

HUD found that Seckel Capital and John Seckel engaged in a years-long pattern of submitting false financial statement to FHA, representing them as properly audited by independent certified public accountants. The action against Seckel and his company is the result of HUD’s ongoing effort to hold the mortgage industry accountable for the loans they originate, underwrite and/or service. Read more about HUD’s Mortgagee Review Board.

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HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and http://espanol.hud.gov.

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U.S. Department of Housing and Urban Development (HUD) is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws.

Contact:

Brian Sullivan
(202) 708-0685

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