Search Results: test HUD

Nevada Attorney General Announces Criminal Indictments of Individuals for Mortgage Fraud Scheme

On September 22, 2015, the Nevada Attorney General’s Office announced criminal indictments of several individuals relating to a mortgage fraud scheme. The defendants, who owned and operated a regional mortgage company, allegedly promised homeowners they qualified for a federal program known as the “Neighborhood Stabilization Plan.” As alleged in the…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More

HUD Settles Fair Housing Claim with Regional Bank for $200 Million

​​The U.S. Department of Housing and Urban Development (HUD) announced that it reached a settlement agreement with a regional bank over a disparate treatment fair housing claim.  HUD alleged that the bank engaged in racially discriminatory redlining by lending less in majority-minority census tracks than in other neighborhoods.  Under the…

Read More

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…

Read More