Mortgage Fraud Whistleblower Receives $64 Million Award

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On March 7, the U.S. District Court for the Southern District of New York approved a stipulation and order awarding nearly $64 million to the relator in a mortgage fraud case recently settled by the federal government. Pursuant to that settlement, a mortgage lender agreed to pay a total of $614 million to resolve allegations that it violated the False Claims Act by submitting false loan-level certifications that fraudulently induced HUD and the Department of Veterans Affairs to insure ineligible mortgage loans.

Topics:  Fraud, HUD, Mortgages, Whistleblower Awards

Published In: Business Torts Updates, Civil Remedies Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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