Judge Unseals Down Payment Gift Suit Against BofA, Others

Law360, New York (January 10, 2013, 9:03 PM EST) -- A California federal judge on Wednesday unsealed a qui tam complaint that accuses lenders Bank of America Corp., Countrywide Home Loans Inc. and others of False Claims Act violations for endorsing for federal insurance mortgages that fraudulently forced home buyers to pay back down payment gift fees.

The named defendants — which also include JPMorgan Chase Bank NA, Washington Mutual Bank FA, SunTrust Mortgage Inc. and First Tennessee Bank NA — and their affiliates allegedly originated and endorsed for federal mortgage insurance loans that they knew were fraudulently passing the cost of participating in a federal down payment gift program onto...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS