Search Results: test FCA/FIRREA

National Bank Announces $1.2 Billion Settlement Relating to FHA Lending Program

​On February 3, 2016, a national bank announced in its SEC filing that it has reached a $1.2 billion agreement in principle with the United States Department of Justice (“DOJ”), the United States Attorney’s Office for the Southern District of New York, the United States Attorney’s Office for the Northern District of California, and…

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Reverse Mortgage Servicer to Pay Over $29 Million to Resolve False Claims Act Allegations

On September 4, 2015, the Department of Justice (“DOJ”) announced that a company engaged in reverse mortgage servicing agreed to pay $29.63 million​ to settle allegations that it violated the False Claims Act (“FCA”) in connection with its participation in the Department of Housing and Urban Development’s (“HUD”) Home Equity Conversion Mortgage…

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Reverse Mortgage Servicing Company Settles False Claims Act Allegations with HUD for $29.63 Million

On September 3, a reverse mortgage servicing company settled alleged violations of Federal Housing Administration (FHA) regulations with the U.S. Department of Housing and Urban Development (HUD). In July 2013, an individual brought a qui tam action in the U.S. District Court for the Middle District of Florida pursuant to the False Claims…

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Bank Reveals DOJ False Claims Act Investigation of FHA Loans

On August 5, 2015, a bank revealed in an U.S. Securities and Exchange Commission filing that the U.S. Department of Housing and Urban Development (“HUD”) Office of Inspector General and the U.S. Department of Justice (collectively, the “Government”) are currently investigating whether the bank complied with underwriting requirements on loans…

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Regional Bank Settles Allegations of FHA Mortgage Lending Violations with Justice Department for $212.5 Million

On June 1, 2015, the Department of Justice announced a settlement with a regional bank over allegations that the bank originated and underwrote mortgage loans that did not meet applicable requirements of the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) insurance program.  The settlement was previously…

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Regional Bank Settles Allegations of Mortgage Lending Quality-Control Deficiencies

On April 2, 2015, a regional bank reached an agreement in principle to settle allegations brought by the U.S. Department of Justice (DOJ) and U.S. Department of Housing and Urban Development (HUD) relating to its former subsidiary’s issuance of mortgage loans insured by the Federal Housing Administration (FHA). The DOJ…

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Regional Bank Settles Claims for $1.225 Million that it Ignored Fraudulent Transactions Committed by Third-Party Payment Processors

On March 12, 2015, the Justice Department announced a settlement with a regional bank over allegations that the bank violated FIRREA by permitting an intermediary third-party payment processor to process fraudulent payments through the bank. The payment processor opened an account at the bank for the purpose of processing electronic…

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