Items Tagged with 'Department of Justice'

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Department of Justice loses another one of its top cops on mortgage fraud

Co-chair of the Mortgage Fraud Working Group Benjamin Wagner stepping down
Less than a month after Stuart Delery, the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis, announced he was stepping down, the DOJ is about to lose another of its big guns in the fight against mortgage fraud.
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Freedom Mortgage to pay $113 million for FHA violations

Unusually high levels of defective mortgages
Freedom Mortgage Corporation now has more in common with Wells Fargo, Franklin American Mortgage, Walter Investment, and First Tennessee Bank than simply being mortgage lenders, as Freedom Mortgage is set to become the latest mortgage company to settle with the Department of Justice over alleged violations of the False Claims Act.
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Department of Justice names new head of financial crisis investigations

Bill Baer taking over for departing Stuart Delery
As expected, the Department of Justice named Bill Baer as the replacement for the departing Stuart Delery. As Acting Associate Attorney General, Baer will be the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis.
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Leader of Justice Department's financial crisis investigations stepping down

Acting Associate Attorney General Stuart Delery leaving for private sector
Stuart Delery, the third in command at the Department of Justice and leader of the DOJ’s investigations into the conduct of banks during the financial crisis, is stepping down. In his time as the lead of the DOJ’s Civil Division, Delery oversaw massive settlements with several financial institutions for their business practices during the financial crisis, including a $601 million settlement with HSBC.
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Solar panel telemarketer faces charges over unlawful robocalls

Violated the Do Not Call Registry
The appeal of solar energy is starting to gain a lot of traction across the nation, especially in warmer states. However, with the increase in demand comes an increase in caution. The Department of Justice filed a new suit against a solar panel telemarketer over unlawful robocalls.
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GE gets subpoena over subprime mortgage operation

DOJ investigating whether GE broke any laws from 2005 to 2007
GE disclosed in its annual report on Friday that its lending unit, GE Capital, and defunct subprime lending unit WMC, received subpoenas in January. GE said it will cooperate with the Justice Department's investigation, which is at an early stage.
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Despite $1.2B settlement, Wells Fargo still facing DOJ probe into mortgage operations

Discloses ongoing federal and state investigations
Despite recently agreeing to a $1.2 billion settlement with the federal government to resolve claims related to its Federal Housing Administration lending program from 2001-2010, Wells Fargo is still facing investigations into its "mortgage related practices" from the Department of Justice, as well as other federal and state agencies.
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Quicken Loans preps to face U.S. over FHA loan violations

Latest update in the legal battle
Quicken Loans is revving up to face the Department of Justice after a federal judge tossed Quicken's lawsuit against the DOJ and the Department of Housing and Urban Development in January. As Quicken Loans prepares for the exceptionally rare case of a lender stepping up to face the U.S. government, it's going to have to overcome a few obstacles, starting with where the trial will take place.
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HSBC reaches $601M settlement over charges of 'abusive mortgage practices'

Settlement reached with DOJ, HUD, CFPB, Federal Reserve, 49 states
HSBC agreed to a $601 million settlement with a series of federal agencies and nearly every state over charges that the bank engaged in mortgage origination, servicing and foreclosure abuses. The massive settlement with HSBC was jointly announced Friday by the Department of Justice, the Department of Housing and Urban Development, the Consumer Financial Protection Bureau, 49 states and the District of Columbia.
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