FEDS INVESTIGATING LENNAR’S MORTGAGE UNIT

Lennar’s mortgage subsidiary is under investigation by the Department of Justice over underwriting related to Federal Housing Administration loans, the U.S. homebuilder disclosed. Federal investigators have subpoenaed records “regarding the adequacy of certain underwriting and quality control processes related to Federal Housing Administration loans originated and sold in prior years,” Lennar said in its annual report filed with the Securities and Exchange Commission.