Mixed Enforcement Signals For FHA Mortgage Lenders

Law360, New York (November 1, 2017, 4:00 PM EDT) -- Two significant events in the last several weeks are forcing Federal Housing Administration mortgage lenders to scratch their heads in assessing the government's fraud enforcement intentions. First, in mid-September, a district judge imposed massive False Claims Act and Financial Institutions Reform, Recovery, and Enforcement Act of 1989 damages and penalties against FHA mortgage lender defendants, in a worrisome display of the debilitating consequences that can befall businesses and individuals who find themselves the targets of civil fraud enforcement actions under both the FCA and FIRREA. See United States v. Americus Mortgage Corp., No. 4:12-CV-2676, (S.D. Tex. Sept. 14, 2017) (Allied). Second,...

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