DoJ

Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for loans submitted for Federal Housing Administration insurance in 2010.

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

The 10-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership.

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

A former Fannie Mae employee is facing more than six years in federal prison for participating in a scam involving discount sales of properties owned by the government-sponsored enterprise.

The fact that the more operationally skilled nonbanks have come to specialize in government mortgages is hardly surprising if you assess the cost to originate and service these loans.

Stephen Calk and the bank where he formerly served as CEO are both arguing that his bribery trial should be held in Illinois. Prosecutors oppose the move.

The Federal Housing Administration has implemented defect taxonomy revisions for 2020 that it considers one of several milestone achievements in its efforts to "provide greater clarity and consistency for lenders.”

The mayor of Taylor, Mich., was indicted by a federal grand jury on allegations of bribery related to the sale of tax-foreclosed properties

Stephen Calk, who faces a bribery charge in connection with loans his bank made to former Trump campaign chair Paul Manafort, is asking a judge to suppress evidence that prosecutors obtained from his mobile phone.

A lower court “erred” when it sided with Fannie Mae and Freddie Mac’s investors, the Justice Department said in its petition to the high court.

The government has used the law to bring fraud claims against Federal Housing Administration lenders, but the new steps respond to criticism that minor offenders were also getting punished.

A list of upcoming cases published by the high court did not include a challenge to the bureau's constitutionality, but the justices could still decide to review it at a later date.

A Rochester, N.Y., developer who faces federal mortgage fraud charges connected to apartments in Buffalo and other cities has pushed back the sale of a significant part of his real estate portfolio until later this month.

Flagstar Bank expects to recover $1 million of its loan to defunct reverse mortgage lender Live Well Financial following the sale of the collateral that secured it.

The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure.

Deutsche Bank is cooperating with the Justice Department's antitrust investigation into whether several of the largest global banks conspired to rig trading in unsecured bonds issued by Fannie Mae and Freddie Mac.

Robert Shapiro, the former chief executive officer of Woodbridge Group of Companies, pleaded guilty to running a $1.3 billion fraud that caused more than 7,000 investors to lose money, according to prosecutors.

Former Lend America executive Michael Ashley was sentenced to three years in prison for his actions that led to the implosion of the once-high-flying Melville, N.Y.-based mortgage lender.

An Indiana man was sentenced to seven years in federal prison after his conviction for participating in a foreclosure rescue fraud scheme.