The report found that Mortgage Now didn't comply with HUD's regulations in the underwriting of five of 20 FHA-insured loans reviewed, due to the underwriters not exercising due diligence. "As a result of the improperly underwritten loans," the report wrote, "Mortgage Now increased the risk to the FHA Mutual Mortgage Insurance Fund by $555,678."
All About TRH added a bit of a confusing note to the story: "That’s not all! James Marcheses ex wife, was found guilty of using client money at her Real Estate Title company for her own personal use! Tisk tisk, Amber!" But if it's his ex-wife — and Jim does have one, they are in a custody battle for their kids — how is that a tsk tsk to Amber? The site claimed Amber was in trouble for “mortgage fraud” but that doesn’t quite seem to be what the audit reveals.
Anyway, Amber and Jim will probably get a few more tsk tsks from fans as Season 6 progresses. Amber did say she loved hard-core porn and prayer, and James does have an interesting past, which you can read about in part in this intriguing New York Times piece from 2007 on Jim having the whistle blown on him as a whistleblower. The word “fraud” does come up there...
Catch the Real Housewives of New Jersey Season 6 premiere on Sunday, July 13, 2014 at 8 p.m. ET.