Regions Discloses HUD Subpoena Related to Mortgages
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Regions Financial Corp., Alabama’s biggest bank, received a subpoena from the U.S. Department of Housing and Urban Development tied to the origination of mortgages backed by the Federal Housing Administration.
The lender is cooperating with the inquiry and expects “the outcome of pending and threatened litigation and inquiries will not have a material effect,” the Birmingham-based company said today in a quarterly filing.