The U.S. Department of Housing and Urban Development (HUD) announced today that over 28,000 home mortgages were approved and federally insured with forged underwriting approvals by lender ABN AMRO Mortgage Group of Ann Arbor, Michgan.

From 2000 to 2003, ABN AMRO pushed through thousands of loans without getting Federal Housing Administration review, as required. Employees signed the names of the company’s underwriters to the loan documents without the underwriters’ consent.

ABN AMRO completed an internal investigation. The company has agreed to a settlement of $41 million, which covers program losses from 229 foreclosures and 783 loans currently in default. The company has also agreed to remediation of the internal problems, which includes discipline and firing of executives and employees.