Mortgage Fraud

Massive Mortgage Fraud Scheme Ends in FCA Action Against Lender

The United States Department of Justice previously announced it was filing a False Claims Act lawsuit against one of the nation’s largest privately held mortgage brokers after more than a decade of fraudulent lending practices. Allied Home Mortgage Corporation, along with two of its officers, are facing allegations they cost the government hundreds of millions [...]

Mortgage Fraud Allegations at ABN Amro Leads to $41 Million Settlement

The Department of Justice (DOJ) previously announced a settlement reached with a Michigan-based mortgage lender in a False Claims Act case. ABN Amro Mortgage Group Inc., a subsidiary of LaSalle Bank Midwest, agreed to pay the government $41 million to resolve allegations that it falsified over 28,000 federally insured mortgages. According to the DOJ, [...]

Mortgage Fraud: HAMP and the False Claims Act

The Home Affordable Modification Program ("HAMP") is a federal program enacted to help eligible applicants with loan modifications on home mortgage debt. It was developed as a result of the subprime mortgage crisis, which began to devastate the financial market in 2008. HAMP is a foreclosure prevention program, providing loan modifications to struggling homeowners. Although [...]

Mortgage Fraud: Beazer Homes Settles False Claims Act Suit

After being charged with fraudulent mortgage origination activities, a Georgia-based home builder and mortgage lender have agreed to settle a False Claims Act lawsuit. Beazer Homes USA Inc. and Beazer Mortgage Corporation have agreed to pay the government $5 million, plus contingent payments of up to $48 million. Headquartered in Atlanta, Beazer designs, sells and builds [...]

Jury Finds State Farm Guilty in False Claims Act Lawsuit

After a lengthy legal battle, a panel of 12 jury members in Mississippi federal court found State Farm Fire and Casualty Co. (State Farm) guilty of violating the False Claims Act. State Farm, the country’s largest insurer of homes, faced allegations that it defrauded the National Flood Insurance Program (NFIP) in relation to the devastation [...]

Task Force Files Mortgage Fraud Lawsuit Against JP Morgan Chase

This case is about fraud committed against the United States government. It is not a personal mortgage fraud claim. Please only contact Berger Montague if you know of a company committing mortgage fraud against the U.S. government. The Residential Mortgage-Backed Securities Working Group officially filed its first mortgage fraud lawsuit, going after JP Morgan [...]

False Claims Act Lawsuit Filed Against Bank of America for Mortgage Fraud

The United States government has filed a lawsuit against Bank of America, charging the institution with costing taxpayers over $1 billion by selling thousands of bogus mortgage loans to "government-sponsored enterprises" (GSEs) Fannie Mae and Freddie Mac. Fannie and Freddie provide home mortgages, which they purchase from lenders who originated them. They hold on to [...]

Mortgage Fraud Lawsuit Filed Against Golden First Mortgage Corporation

A civil mortgage fraud lawsuit filed in Manhattan this week accuses Golden First Mortgage Corporation and its owner, David Movtady, of participating in a fraudulent loan certification scheme that resulted in at least $12 million of losses through participation in the Federal Housing Administration (FHA) Direct Endorsement Lender Program. Golden First is charged with violating [...]

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