Tulsa realty firm subject of HUD investigation
Friday, March 4th 2005, 5:40 AM CST
A Tulsa real estate company and title company are the focus of a federal investigation. The Department of Housing and Urban Development is investigating McGraw, Davisson, Stewart and Closings of Tulsa, as well as other local closing companies.
Attorneys for McGraw and Closings of Tulsa say the civil investigation involves the interpretation of the real estate settlement procedures act. The attorneys describe the investigation as routine.
They say rumors that any of their client's customers had to pay extra are false. Attorney Bill Grimm: "To say that there has been a single consumer that has been injured is totally wrong.â€
The attorneys point out the investigation has been deferred. No charges of any kind have been filed against any local companies.
McGraw, Davisson, Stewart and Closings of Tulsa say they are cooperating with HUD.