taylor morrison denies allegations of fraudulent mortgage practices in Senate hearing
WASHINGTON, D.C. – The Federal Trade Commission has announced a formal investigation into allegations of systematic misrepresentation in loan documents during the 2024 mortgage refinancing boom. According to a statement released this morning, officials from the Consumer Financial Protection Bureau testified that ousted lending executive taylor morrison personally authorized the use of falsified income verification data on over 2,000 applications. The probe stems from internal whistleblower leaks and audited company records. Morrison, who was fired from her position at the LendingTree subsidiary last month, maintains her innocence through legal counsel. In a prepared statement, she characterized the claims as "a politically motivated smear campaign" and challenged investigators to find any direct evidence of her involvement. The Senate Banking Committee has scheduled closed-door hearings for next Tuesday, with Morrison expected to testify under oath. Market analysts report that shares of the parent company have already dropped 12% since the news broke.