Housing Feds Investigating Baltimore-Area Mortgage Company

City Paper reports:

• "A federal law-enforcement agency has demanded loan documents from a local mortgage company whose prominent frontman, David Carey, was profiled by City Paper ("Where Credit Is Due," Feature, Feb. 21). The subpoena, served at Equitable Trust Mortgage Corp.'s White Marsh headquarters, asks for records pertaining to about 20 loans the company made during the past three years, according to Equitable Trust co-owner William Scott Lucas. [...] Instead of a cordial informal request, agents of the federal Department of Housing and Urban Development's Office of Inspector General subpoenaed the records, Lucas says. HUD's Office of Inspector General is an independent agency that investigates HUD programs to prevent waste and fraud. [...] Equitable Trust is a seven-year-old mortgage brokerage with offices in Baltimore City, Baltimore County, and Harford County."

For more, see HUD-aches (HUD Inspector General Opens Investigation of Equitable Trust Mortgage Corp.).