HUD revokes FHA lender

[djd09]

HUD suspends FHA loan approval for Equity Prime Mortgage, RAC in several markets​

The lenders can seek reinstatement after six months with a corrective action plan and independent review
January 21, 2026, 7:50am by Sarah Wolak

The U.S. Department of Housing and Urban Development (HUD) has “revoked” the Federal Housing Administration (FHA) loan approval authority of Equity Prime Mortgage (EPM) and Residential Acceptance Corporation (RAC), in several markets, as outlined in Wednesday’s Federal Register.

The action is part of HUD’s Credit Watch Termination Initiative, which monitors mortgage lenders’ performance.

In the notice, HUD said EPM is losing its ability to independently approve FHA loans in HUD office jurisdictions Atlanta, Columbia, S.C., Dallas and Houston, while RAC, a Florida-based lender, is losing the ability to do so in Tampa.

The “terminations,” which EPM’s CEO Eddy Perez says are actually a suspension, were effective Dec. 24, 2025, according to the Register. Perez told HousingWire that he was notified the day prior. RAC did not respond to HousingWire’s request for comment.

Perez said that the suspensions stem from elevated defaults tied to loans originated during a period of rapid market change, including rising inflation, higher property taxes and insurance costs, and increased stress on first-time homebuyers.

https://www.housingwire.com/articles/FHA-loan-approval-revoked/

FHA...be careful

 

[OSU Beavers]

Damn, Fast Eddy is still selling loans? Anyone else get those daily comp check and value push calls back in the late 1990's coming from Fast Eddy originating out of the 818 area code?