News & Analysis as of

Fraud Department of Justice (DOJ) Mortgages

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Morgan Lewis

DOJ Announces $3.7 Billion in 2017 FCA Recoveries

Morgan Lewis on

DOJ highlights healthcare, housing and mortgage, and procurement fraud as largest areas of recovery; impending changes under the new tax legislation could limit tax deductions for False Claims Act payments....more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The DOL went to bat for its controversial fiduciary rule in a 5th Circuit briefing this week, but it agreed to drop a prohibition on class-action waivers that was further ruffling feathers....more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.28.16

Robins Kaplan LLP on

A pair of whistleblowers is seeking discovery-related sanctions against Wells Fargo for allegedly concealing “crucial evidence” for their False Claims Act claims over fees added to government-backed mortgages....more

Bilzin Sumberg

Fraud Verdict Against Countrywide & BofA Upheld

Bilzin Sumberg on

BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District Court for the Southern...more

Bilzin Sumberg

Justice Department Keeps its Distance From Szymoniak Mortgage Fraud Lawsuit

Bilzin Sumberg on

As detailed in an August 2013 Salon article by David Dayen and a September 2013 Bloomberg Businessweek article by Karen Weise, West Palm Beach, Florida homeowner and attorney Lynn Szymoniak helped blow the whistle on...more

Bilzin Sumberg

BofA’s Countrywide Found Responsible For Defrauding Fannie Mae & Freddie Mac

Bilzin Sumberg on

A federal jury ruled yesterday that Countrywide, now owned by Bank of America, defrauded Fannie Mae and Freddie Mac by selling them defective mortgages in advance of the great financial crisis of 2008. A former Countrywide...more

Bilzin Sumberg

DOJ and SEC File Suits Against Bank of America

Bilzin Sumberg on

Stop me if you have heard something like this before. The Department of Justice announced a civil lawsuit on Tuesday alleging that Bank of America defrauded buyers of mortgage-backed securities by lying about the quality of...more

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