Mortgage Insurance

  • Mortgage Underwriting Fraud in 2016 – Whistleblower Post

    … qualify if backed by the FHA or VA. Loans by Fannie Mae and Freddie Mac also qualify. If you have inside information about wrongdoing, we help you investigate and file a sealed lawsuit in federal court. Ultimately the Justice Department can take over the case or allow us to prosecute. While being investigated, the case is usually sealed meaning…

    Due Diligence- 18 readers -
  • USFS Settles Crisis Era False Claims Act Mortgage Fraud Case

    … Settlement with United Shore Financial Services The case against United Shore was prosecuted by the Department of Justice and the Inspector General of HUD. The Office of the Inspector General is the law enforcement arm of HUD. Prosecutors in Washington DC, Madison, Wisconsin and Detroit participated in the case. In announcing the settlement, a Justice…

    Due Diligence- 19 readers -
  • Freedom Mortgage – VA Loans – ACTIVE INVESTIGATION

    … loan to HUD, despite its obligation to do so. In 2012, after identifying hundreds of loans that “possibly should have been self-reported to HUD,” it reported only one. As a result of Freedom Mortgage’s conduct, HUD insured hundreds of loans that were not eligible for FHA mortgage insurance…” Freedom Mortgage and VA Lending We believe that Freedom…

    Due Diligence- 14 readers -
  • Anatomy of a Fraud – U.S. v Allied Home Mortgage Goes to Trial

    … Allied Home Mortgage was once the largest privately held FHA lender in the United States. It wrote more mortgages than many big banks. That all came to a crushing halt in November 2011 when the U.S. Department of Justice intervened in a False Claims Act claim filed by a former branch manager turned whistleblower. At the same time, HUD took its…

    Due Diligence- 42 readers -
  • BB&T Pays $83 Million Settles Mortgage False Claims Act Beef

    … whistleblower statute known as the False Claims Act. The Justice Department this week reports that BB&T is paying a whopping $83 million to settle charges surrounding its FHA residential loan program. Prosecutors say that the North Carolina based bank underwrote FHA insured mortgages that didn’t meet quality control standards. That is a big…

    Due Diligence- 17 readers -
  • First Tennessee Bank Settles False Claims Act Suit – $212 Million!

    … found that First Tennessee caused FHA to pay claims on loans that the bank never should have approved and insured in the first place.” First Tennessee Bank is located in Memphis, Tennessee. In 2012, our office resolved a case with another Memphis area lender, Evolve Bank and Trust. In August of 2008, First Tennessee Bank sold its mortgage unit…

    Due Diligence- 23 readers -