Government Contracting Residential Real Estate Finance & Banking

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Will the DOJ Kill FHA Loans Through Their Use of the False Claims Act?

The purpose of the Federal Housing Administration (FHA) is "to help creditworthy low income and first time homebuyers, individuals and families often denied traditional credit, to obtain a mortgage and purchase a home." This...more

Sixth Circuit Affirms Dismissal of $2.3 Billion FCA Case Due to Prior Public Disclosure

Last week, in U.S. ex rel. Advocates for Basic Legal Equality, Inc. (ABLE) v. U.S. Bank, the Sixth Circuit affirmed the dismissal of a False Claims Act (FCA) suit against U.S. Bank because the conduct alleged by the qui tam...more

Ninth Circuit holds that Fannie Mae and Freddie Mac are not officers, employees, or agents of the United States under 31 U.S.C. §...

On February 22, the Ninth Circuit affirmed the dismissal of an FCA claim brought by relators alleging that various lenders and loan servicers made false certifications to Fannie Mae and Freddie Mac, concluding that claims...more

Ninth Circuit Rejects Whistleblower Argument that Fannie Mae and Freddie Mac are Federal Instrumentalities under the False Claims...

Liability under the False Claims Act (FCA) is premised on the submission of a claim for money or property either to a federal government “officer, employee, or agent” or, under certain circumstances, to a nongovernmental...more

Freddie Mac and Fannie Mae Not Considered Government Agents Under the FCA

In United States ex rel. Adams v. Aurora Loan Servs., Inc., 2016 WL 697771, — F.3d —- (9th Cir. Feb. 22, 2016), the Ninth Circuit found that Fannie Mae and Freddie Mac were not government entities for purposes of the False...more

A School Facilities Bond For 2016: Good News For Everyone

Over the last 15 years, California’s population has grown by approximately 5 million people—the same number filling the entire state of Colorado. This influx has created a housing shortage that the California market has...more

When Government Walks in Industry’s Shoes, FCA May Not Apply (and Vice Versa)

In November, an Illinois federal judge blocked a former bank employee from collecting his claimed relator’s share of a potential settlement between the FDIC (acting as the bank’s receiver) and the bank’s former directors. In...more

Can A Law Firm Qualify As An Original Source?

Although a Federal district court refrained from providing a definitive answer to this question, it appears unlikely given the court’s holding and reasoning in United States v. U.S. Bank, N.A., No. 3:13-cv-704, 2015 WL...more

Quicken Loans Takes on the DOJ & HUD

Quicken Loans, the nation’s largest Federal Housing Administration (FHA)-backed mortgage lender, filed suit on Friday, April 17 in the United States District Court in Detroit against the United States Department of Justice...more

FCA Matters: Department of Justice Touts Record Recoveries in False Claims Act Cases (2/15)

The U.S. Department of Justice collected a record $5.69 billion through settlements and judgments in False Claims Act cases during the fiscal year ending September 30, 2014, according to a recent announcement by DOJ...more

When Being Ethical Pays Off – Countrywide Whistleblower Gets $56.7 Million Payout

A former executive at mortgage lender, Countrywide Financial, is about to become an extremely wealthy man. Edward O’Donnell is set to collect $57.6 million from Bank of America, for his role in exposing fraudulent activity...more

HUD Publishes New Rule Governing Federal Procurement and Contracting

The U.S. Department of Housing and Urban Development (HUD) recently published a rule that made numerous changes to grant administration, procurement, and contracting requirements. The rule repealed the requirements found at...more

DOJ Announces Record Year of Over $5 billion in False Claims Act Recoveries

2014 was a banner year for federal recoveries under the False Claims Act (“FCA”). In a press release dated November 20, 2014, the DOJ announced that its total recoveries – including those from both settlements and judgments –...more

5 things to know about RAD

With HUD’s Rental Assistance Demonstration program in full swing and transactions moving through the RAD pipeline, it may be helpful to step back now and again to consider some points about RAD. Here are a few that have...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

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

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

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

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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