News & Analysis as of

Mortgage Fraud

DOJ Announces False Claims Act Recoveries for 2017

by Weiner Brodsky Kider PC on

The Department of Justice (DOJ) recently announced recoveries of more than $3.7 billion from False Claims Act case settlements and judgments for the fiscal year ending September 30, 2017. Over $543 million of this amount was...more

Real Property, Financial Services, & Title Insurance Update: Week Ending January 12, 2018

by Carlton Fields on

REAL PROPERTY UPDATE - Standing/Foreclosure: pursuant to Florida Rule of Procedure 1.260, the assignee of a note during pendency of a foreclosure acquires standing of original plaintiff lender - Spicer v Ocwen Loan...more

Fourth Circuit Splits with Ninth Circuit Regarding Restitution to Financial Institutions Following Mortgage Fraud

by Reed Smith on

Recent Fourth and Ninth Circuit Court opinions show that a financial institution’s classification as a loan originator or a loan purchaser can impact significantly the amount of restitution the entity can potentially recover...more

When can fraud on a mortgage be brought home to the bank?

by Dentons on

In a significant decision, that will be good news for lenders, the Supreme Court of New South Wales has confirmed the principle that fraud as an exception to indefeasibility of title only applies where the fraud can be...more

HUD OIG Announces Termination of FHA Fraud Investigation

by Goodwin on

On September 29, the Office of Inspector General for the United States Department of Housing and Urban Development (HUD OIG) announced the termination of an investigation of a national mortgage lender relating to a purported...more

Your daily dose of financial news - The Brief – 8.5.16

by Robins Kaplan LLP on

The DOJ has asked the 2d Circuit to reconsider its May decision overturning the 2013 jury verdict (and subsequent $1.27 billion penalty) against Bank of America for fraud relating to its mortgage-generation HUSL program....more

Real Property & Title Insurance Update: Weeks Ending June 24 & July 1, 2016

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Leave to Amend: borrower should have been granted leave to amend to assert affirmative defenses pursuant to motion filed 13 days before trial because there was no prejudice, the...more

Your daily dose of financial news - The Brief – 6.27.16

by Robins Kaplan LLP on

The leadership void at the top in the UK isn’t helping matters at all, as resignations among both major parties reign supreme in the aftermath of the Leave vote....more

I Meant it at the Time: Second Circuit Reverses $1.2BN FIRREA Judgment

by Burr & Forman on

It’s hornbook law that a later intentional breach of contract, alone, doesn’t equal promissory fraud. Holding it therefore cannot establish mail or wire fraud, the Second Circuit reversed the Government’s $1.2 Billion FIRREA...more

Your daily dose of financial news The Brief – 5.26.16

by Robins Kaplan LLP on

The SEC has opened an inquiry into Alibaba’s accounting related to affiliated companies and related-party transactions, a big deal for a company “long seen as a symbol of China’s growing technological might”...more

Your daily dose of financial news The Brief – 1.21.16

by Robins Kaplan LLP on

Remember that oil spill on the markets from yesterday? We’re heading into Exxon Valdez territory here, even with a late-day rally on Wall Street that helped somewhat stem monumental losses – NYTimes... The Upshot’s...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

Real Property, Financial Services & Title Insurance Update

by Carlton Fields on

Easements: trial court erred in denying statutory easement or “way of necessity” where owners established all elements pursuant to section 704.01(2), Fla. Stat. – Messer v. Sanders, No. 1D13-3084 (Fla. 1st DCA July 9, 2014)...more

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