Government Contracting Residential Real Estate Finance & Banking

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DOJ Obtains Settlement In FHA False Claims Act Case

On February 4, the DOJ announced the filing and simultaneous settlement of a complaint by the U.S. Attorney for the Southern District of New York (SDNY) against a mortgage lender alleged to have violated the False Claims Act...more

Cities and Counties Must Provide Report Before Approving Economic Development Subsidies to Businesses

New Law Applies to Subsidies of $100,000 or More - Gov. Brown last week signed into law AB 562, legislation that will require all cities and counties to provide a report to the public before approving any economic...more

Federal Court Refuses To Dismiss Government’s Statutory Claims against Mortgage Originators That Allegedly Defrauded HUD

A federal judge recently rejected motions to dismiss in a suit in which the U.S. government alleged that two mortgage originators and their officers defrauded the Department of Housing and Urban Development (HUD) into...more

Southern District Of New York Again Endorses DOJ Mortgage Fraud Theory

On September 24, U.S. District Court Judge Jesse Furman largely denied a bank’s motion to dismiss a complaint filed by the U.S. Attorney’s Office for the Southern District of New York (SDNY) in which the government alleges...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), June 26, 2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Federal Government Civil Fraud Suit Targets Mortgage Lender And Its President

On April 4, the U.S. Attorney for the Southern District of New York and HUD officials announced a civil fraud suit alleging FCA and FIRREA claims against a mortgage lender and its president for falsely certifying loans and...more

Seventh Circuit Adopts “Net Trebling” Damage Calculation In False Claims Act Case

On March 21, the U.S. Court of Appeals for the Seventh Circuit held that damages awarded in a False Claims Act case should have been calculated using a “net trebling” method. United States v. Anchor Mortgage Corp., No....more

United States Government Accountability Office GAO Report to Congressional Requesters

GAO Report on Independent Foreclosure Reviews Exposes OCC, Fed’s Plan to Deliberately Minimize Evidence of Borrower Harm

FORECLOSURE REVIEW Lessons Learned Could Enhance Continuing Reviews and Activities under Amended Consent Orders The Government Accountability Office released their second report on the Independent Foreclosure Reviews. At...more

Changes Taking Effect to North Carolina Lien and Bond Laws

The rules are changing when it comes to North Carolina lien and bond laws. And, the new provisions are substantially altering the way in which all parties involved in lien rights – from owners, buyers, and sellers to general...more

Fannie Updates Foreclosure Time Frames For Twelve States

On February 13, Fannie Mae issued Servicing Guide Announcement SCV-2013-01, which increases the maximum number of allowable days within which routine foreclosure proceedings are to be completed in California, Colorado,...more

House Democrats Urge President Obama To Nominate FHFA Director

On February 7, 45 Democratic Members of the House of Representatives sent a letter to President Obama requesting he nominate a permanent director for the FHFA to replace Acting Director Edward DeMarco. ...more

A Federal Court's Lifeline to the Servicing Industry: No Physical Pain, no Negligent Servicing Claim

Keith Andress, Natalie Bolling and Stephen Pudner of Baker Donelson's Birmingham office were recently successful in having a mortgagor's claims seeking punitive damages against a major mortgage servicing company dismissed...more

False Claims Act Focus - December 2012

EDITOR’S NOTE - Recent reports from the Department of Justice that it collected a record $4.9 billion under the False Claims Act in fiscal year 2012 only underscore what we’ve been seeing in our practice and elsewhere...more

Bank Argues Government’s False Claims Act Case Violates National Servicing Settlement

On November 1, one of the five banks that entered into a comprehensive mortgage servicing settlement earlier this year with the federal government and 49 state attorneys general invoked that agreement in defense of claims...more

FEDERAL HOUSING FINANCE AGENCY OFFICE OF INSPECTOR GENERAL

FHFA’s Oversight of Fannie Mae’s Default-Related Legal Services

Why FHFA-OIG Did This Audit In 1997, the Federal National Mortgage Association (Fannie Mae or Enterprise) established its Retained Attorney Network (RAN) to acquire default-related legal services associated with foreclosure,...more

CONGRESS OF THE UNITED STATES- COMMITTEE ON OVERSIGHT & GOVERNMENT REFORM

Rep. Elijah E. Cummings (D-MD) letter asking the Inspector General of the FHFA to examine “widespread allegations of abuse by...

Cummings Applauds End of “Retained Attorney Network”; Warns That Fannie and Freddie Must Ensure that Foreclosure Lawyers Follow the Law Washington, DC (Nov. 9, 2012) Rep. Elijah E. Cummings, Ranking Member of the...more

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