General World News

HUD sued over alleged failure to refund mortgage insurance premiums

The U.S. Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. The lawsuit was previously reported by National Mortgage News and Law360.

The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housing Administration (FHA), and it has made the process of requesting a refund slow and complicated.

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