Mortgage Fraud

Walter Investment Management Corporation Settles Mortgage Fraud Case for $29 Million

Walter Investments has agreed to pay $29 million to settle allegations it falsely certified residential reverse mortgages as compliant with HUD guidelines.Image source: Wikimedia Commons In yet another mortgage fraud case, Walter Investment Management Corporation (Walter Investment) has agreed to pay over $29 million to resolve allegations it [...]

By | 2018-03-25T13:50:56+00:00 September 16th, 2015|Mortgage Fraud|

First Tennessee Bank Agrees to Staggering Quarter-Billion Dollar Mortgage Fraud Settlement

Mortgage fraud continues to plague the government’s anti-fraud task forces, notwithstanding the widespread 2008 economic downturn caused in part by various residential underwriting antics by big name lenders. Having apparently not learned the lesson, Nashville-based First Tennessee Bank recently settled similar claims of mortgage fraud for a whopping $212 million, making it one of [...]

By | 2018-09-12T10:46:39+00:00 June 12th, 2015|Mortgage Fraud|

MetLife Home Loans LLC to Settle Mortgage Fraud Case for $125 Million

In the wake of the 2008 financial crisis, which was primarily fueled by the housing bubble burst, many less-than-lawful residential home loan lenders have faced serious civil and criminal penalties for participating in shoddy underwriting practices, robo-signing, lax credit reviews, and outright fraud. Over the past several years, the U.S. government has targeted many [...]

By | 2018-09-13T11:47:30+00:00 March 20th, 2015|Mortgage Fraud|

Court’s Analysis Spells Victory for Bibby Relators Following Contested False Claims Act Reward

Over the last few posts, we have engaged in an in-depth look at a relatively rare issue involving confidentiality during the investigative stage of a False Claims Act whistleblower case. The case, known as United States ex rel. Bibby v. Wells Fargo, N.A., has garnered some national attention as the Eleventh Circuit recently upheld [...]

By | 2019-02-20T11:17:13+00:00 February 9th, 2015|Mortgage Fraud|

Exploring the Bibby Case: Where Did the Relators Go Wrong?

As we discussed in yesterday’s post, the Eleventh Circuit recently handed down a ruling in a case of first impression: What sort of punishment should a relator face for breaching confidentiality rules during the investigative stage of a whistleblower action? We reviewed the rules of filing under seal and why this is an important [...]

By | 2018-09-11T13:36:26+00:00 February 6th, 2015|Mortgage Fraud|

Filing Under Seal and United States ex rel. Bibby v. Wells Fargo

Over the next three posts, we will explore a recent case handled by the U.S. Court of Appeals for the Eleventh Circuit – a jurisdiction covering Alabama, Florida, and Georgia – involving sanctions against a courageous whistleblower with an apparent misunderstanding of the rules of confidential seals. In today’s post, we introduce the concept [...]

By | 2018-09-12T10:43:42+00:00 February 5th, 2015|Mortgage Fraud|

Bank of America Faces False Claims Act Lawsuit Involving Federal Refinance Program

Following the 2008 housing crisis, the federal government went to great lengths to ensure struggling homeowners were afforded every possible opportunity to keep their homes. One such effort, known as the Home Affordable Refinance Program (HARP), was enacted in 2009 to help borrowers who were “upside down” or “underwater” on their residential mortgages. In [...]

By | 2019-02-19T15:27:53+00:00 January 30th, 2015|Mortgage Fraud|

Virginia Attorney General Initiates Record-Shattering False Claims Act Lawsuit

Earlier this month, Virginia Attorney General Mark R. Herring announced a record $1.15 billion lawsuit against several major banking institutions. The lawsuit stems from the rampant misconduct that eventually gave rise to the 2008 housing bubble, and includes the following defendants: Barclay’s Capital, Inc. Citigroup Global Markets Inc. Countrywide Securities Corporation Credit Suisse Securities [...]

By | 2019-02-18T16:01:41+00:00 October 7th, 2014|Mortgage Fraud|

California District Court Reviews Public Disclosure Bar in Light of False Claims Allegations by Realtor

The federal False Claims Act contains several provisions that essentially work to bar plaintiffs with certain types of actions from filing a whistleblower claim. One of these bars is known as the “public disclosure bar,” and it prevents a whistleblower from filing a claim involving allegations of fraud against the [...]

By | 2019-02-19T16:37:37+00:00 August 22nd, 2014|False Claims Act Legal News|
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