Collapse of lender taints Lee builder [South Florida]
Some first home buyers sue for fraud
A Michigan credit union has collapsed following hundreds of questionable loans to people buying First Home Builder houses in Lee County.
Meanwhile, some buyers have filed suit against First Home, the credit union and others — alleging fraud and conspiracy in the marketing, sale and financing of the homes.
The National Credit Union Administration on Feb. 16 assumed control of the Ann Arbor-based Huron River Area Credit Union, which has 39,000 members and $348 million in assets.