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A lawsuit filed against CITIMORTGAGE, INC, a subsidiary of CITIBANK, N.A. was filed in the U.S. District Court for Manhattan on Wednesday and simultaneously settled for $158.3 million. The suit, brought by the U.S. Attorney that District on behalf of the Department of Housing and Urban Development (HUD), charged the company, a participant in the Direct Endorsement Lender program administered by the FHA, had engaged in risky lending which had caused HUD, FHA's parent, to incur losses on certain loans that the bank should never have originated. In the settlement CITIMORTGAGE "admits, acknowledges, and accepts responsibility" for certain conduct alleged in the Complaint including failing to comply with all HUD-FHA requirements with respect to certain loans and submitting certifications to the...()