Warren Wants More Info On $225M FHA Settlement

Law360, New York (August 21, 2013, 1:24 PM EDT) -- Sen. Elizabeth Warren, D-Mass., on Wednesday asked the U.S. Department of Justice to explain how five big banks that entered into last year's $25 billion national mortgage settlement were able to escape claims they defrauded the Federal Housing Administration with a mere $225 million payment.

In a letter to Attorney General Eric Holder, Warren said that the $225 million payment represented less than 1 percent of the approximately $37 billion penalty the five largest mortgage servicers could have been hit with for filing allegedly fraudulent mortgage...
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