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Fair Housing Act (FHA) False Claims Act (FCA)

ArentFox Schiff

Investigations Newsletter: Mortgage Company to Pay $24.9 Million to Resolve Alleged False Claims Act Violations

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Mortgage Company to Pay $24.9 Million to Resolve Alleged False Claims Act Violations - On October 28, 2020, the Department of Justice (the “DOJ”) announced that Guild Mortgage Company (“Guild”), a California-based...more

Saul Ewing LLP

Texas Hospital and Co-Defendants to Pay More Than $16 Million to Settle Lawsuits Alleging False Claims Act and Anti-Kickback...

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On September 28, 2020, the U.S. Department of Justice (DOJ) announced that Lakeway Regional Medical Center LLC (LRMC) in Texas agreed to pay $13,580,822.79, and Surgical Development Partners LLC, Surgical Development Partners...more

Goodwin

DOJ Announces $15 Million Settlement with Mortgage Originator Over Alleged FCA Violations

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On April 29, the Department of Justice (DOJ) announced that it settled allegations that an Illinois-based mortgage lender violated the False Claims Act (FCA), the Financial Institutions Reform, Recovery and Enforcement Act...more

Alston & Bird

Slaying the Monster? Reduced Risk of False Claims Act Prosecution for FHA Lenders

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A&B Abstract: In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum...more

Bradley Arant Boult Cummings LLP

HUD and DOJ Release Memorandum on the Application and Enforcement of FHA Violations Involving the False Claims Act

In an effort to provide clarity and certainty to Federal Housing Administration (FHA) approved lenders, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Justice (DOJ) jointly issued a...more

Buchalter

HUD and DOJ Release Guidance on False Claims Act

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On Monday, October 28, Attorney General William Barr and Department of Housing and Urban Development Secretary Ben Carson signed a memorandum of Understanding (MOU) between the Department of Justice (DOJ) and HUD. The MOU...more

White & Case LLP

Consumer financial services: The road ahead: Mortgage origination and servicing

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In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

Goodwin

DOJ Investigates FHA Loans Issued by Florida-Based Mortgage Subsidiary

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On January 25, 2018, a Florida-based homebuilder filed its Form 10-K annual report with the Securities and Exchange Commission (SEC), disclosing that its “mortgage subsidiary has been subpoenaed by the United States...more

McGuireWoods LLP

Seventh Circuit Looks to “Separate the Wheat from the Chaff” by Adopting a New FCA Causation Test

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In United States v. Luce, the Seventh Circuit overturned a two-decade precedent by holding that proximate causation, and not “but for” causation, was the proper standard to employ in FCA cases. In so holding, the Seventh...more

Saul Ewing LLP

In Luce, The Seventh Circuit Joins the Third, Fifth, Tenth, and D.C. Circuits in Adopting a Proximate Causation Requirement for...

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In United States v. Luce, the U.S. Court of Appeals for the Seventh Circuit recently held that a plaintiff suing under the False Claims Act (“FCA”), 31 U.S.C. § 3729 et seq., must demonstrate not merely that the government...more

Bradley Arant Boult Cummings LLP

Would the 7th Circuit Have Changed Its FCA Standard but for Peer Pressure?

The Seventh Circuit finally abandoned its “but-for” causation standard for False Claims Act (FCA) damages. The decision comes 25 years after the Seventh Circuit first adopted its controversial standard requiring only a...more

Goodwin

Court Awards Nearly $280 Million in Treble Damages Against Former FHA Lender

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On September 14, 2017, the U.S. District Court for the Southern District of Texas issued an opinion and order against two former mortgage companies and their former president and CEO. The order, which followed a previous jury...more

Goodwin

National Lender Settles False Claims Act Allegations with DOJ for Over $74 Million

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On August 8, 2017, the Department of Justice (DOJ) announced that a national lender agreed to settle allegations that it violated the False Claims Act. The settlement resolves allegations that the lender originated and...more

Goodwin

US Attorney Announces Settlement with Florida Condominium Complex Over Alleged FHA Reverse Mortgage Fraud

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On July 20, 2017, acting United States Attorney Stephen Muldrow announced a civil settlement with the owner of a Florida condominium complex over fraudulent reverse mortgage transactions. Defendant had been accused of...more

Goodwin

Mortgage Lender Pays $4.157 Million to Settle False Claims Act Allegations Concerning FHA Loans

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On July 3, 2017, the United States Department of Housing and Urban Development (HUD), the HUD Office of Inspector General (HUD-OIG), the U.S. Attorney’s Office for the Northern District of Georgia, and the U.S. Attorney’s...more

Goodwin

Reverse Mortgage Servicer to Pay $89 Million to Resolve False Claims Act and FIRREA Claims

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On May 16, 2017, the U.S. Department of Justice (“DOJ”) announced that it had reached a settlement with a company engaged in reverse mortgage servicing, in connection with the company’s participation in the Department of...more

Goodwin

Mortgage Lender Settles with HUD for Allegedly Making FHA Mortgage Loan Payments on Behalf of Borrowers

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On February 7, the U.S. Attorney for the Eastern District of New York, the Office of the Inspector General for the Department of Housing and Urban Development (HUD), and the Inspector General for the Federal Deposit Insurance...more

Skadden, Arps, Slate, Meagher & Flom LLP

"2016-17 Supreme Court Update"

In a season of political surprises, the eight-member U.S. Supreme Court has stirred no controversy with its decisions so far this term. The handful of opinions the Court released in the fall were unanimous and, for the most...more

Goodwin

Financial Services Weekly News - January 2017

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Editor's Note - In This Issue. The NYDFS revised its proposed cybersecurity regulations, the FDIC sought comment on its new de novo bank deposit insurance handbook, federal banking agencies finalized streamlined call...more

Goodwin

Jury Issues $92 Million Verdict Under the False Claims Act Against Mortgage Companies and CEO

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On November 30, 2016, the U.S. Attorney for the Southern District of Texas announced that a federal jury in the Southern District of Texas issued a verdict finding several related mortgage companies and their CEO liable in...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations and White Collar Defense - October 2016

Supreme Court: What Constitutes an Insider Trading “Personal Benefit” - Why it matters: On October 5, 2016, the Supreme Court heard oral argument in Salman v. United States, where the central issue was what the...more

Goodwin

DOJ Secures $83 Million Settlement Over Alleged FHA Underwriting Violations

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On September 29, the U.S. Department of Justice (DOJ) announced that it had secured a settlement from a national lender, resolving allegations that the lender violated the False Claims Act, Program Fraud Civil Remedies Act,...more

Goodwin

Financial Services Weekly News - September 2016 #2

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Editor's Note - In this edition. The NYDFS proposed a cybersecurity regulation governing New York-chartered banks and insurance companies, the OCC released its bank supervision priorities in its annual supervision...more

Bradley Arant Boult Cummings LLP

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

Dorsey & Whitney LLP

Judge Dismisses FCA Claim Against City of Chicago; Concludes that “Subsequent Nonperformance of a Future Commitment” Was Not a...

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On September 16, 2015, the U.S. District Court for the Northern District of Chicago dismissed a False Claims Act (FCA) case against the City of Chicago, because the qui tam complaint did not satisfy the relevant pleading...more

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