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Displaying items by tag: Regulatory Violations
Friday, May 11 2012 05:32
Settlement Entered in Civil Lawsuit Concerning HUD Violations
Deutsche Bank AG, DB Structured Products, Inc., Deutsche Bank Securities, Inc. (collectively "Deutsche Bank") and MortgageIt, Inc. have entered into an agreement settling a lawsuit filed by the United States, which alleged HUD misreprsentations.
Wednesday, February 29 2012 08:15
Lender Settles Suit Alleging FHA Insurance Violations
Flagstar Bank, F.S.B. ("Flagstar"),one of the nation's largest savings banks and originators of mortgage loans, was the subject of a civil lawsuit, which it simultaneously settled. The lawsuit included allegations that Flagstar improperly approved residential home mortgage loans for government insurance.
Friday, February 17 2012 00:00
Settlement Reached in Lawsuit Alleging FHA Violations
CitiMortage, Inc., a subsidiary of CitiBank, N.A., was the subject of a civil lawsuit, which was immediately settled. The Complaint sought damages and civil penalties under the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 for over six years of misconduct in connection with its participation in the Federal Housing Administration Direct Endorsement Lender Program.
Thursday, April 21 2011 07:02
Former Chairman of Taylor, Bean & Whitaker Convicted in $2.9 Billion Fraud Scheme
Lee Bentley Farkas, the former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), was convicted for his role in a more than $2.9 billion fraud scheme that contributed to the failures of Colonial Bank, one of the 25 largest banks in the United
Wednesday, December 09 2009 01:30
Former Officers of Subprime Lender Charged With Fraud
Brad A. Morrice, Laguna Beach, California, former CEO and Co-Founder, Patti M. Dodge, Irvine, California, former CFO, David N. Kenneally, Rossmoor, California, former Controller of New Century Financial
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Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.
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