Utah-based lenders to pay nearly $10 million to settle mortgage allegations

October 3, 2016 6:20 PM EDT

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WASHINGTON (Reuters) - Primary Residential Mortgage Inc and SecurityNational Mortgage Co have agreed to pay $5 million and $4.25 million, respectively, to resolve allegations they violated the law by underwriting government-backed mortgages that did not meet requirements, the U.S. Justice Department said on Monday.

Both lenders are headquartered in Salt Lake City, Utah, the department said.

(Reporting by Eric Beech; Editing by Mohammad Zargham)

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