The Department of Housing and Urban Development (HUD) is asking Ameritrust Mortgage Bankers to indemnify the Federal Housing Administration (FHA) for possible future losses on 10 loans and reimburse the agency $183,327 for actual losses on at least one mortgage.

HUD's Office of Inspector General (OIG) audited 20 loans originated by the Lake Success, N.Y.-based lender, discovering "material underwriting deficiencies" on 11 of the loans, including inadequacies tied to income, assets, liabilities and the credit history of the borrowers.

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