September 12, 2016
Posted September 20, 2016
Birmingham-based Regions Bank agreed to pay $52.4 million to settle charges that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements. According to the government, Regions’ misconduct caused HUD to incur substantial losses by paying insurance claims for loans not eligible for FHA mortgage insurance. Whistleblower Insider
Tagged in: FCA Federal, Housing and Mortgage Fraud,