September 29, 2016
Posted October 24, 2016
North Carolina-based Branch Banking & Trust Company agreed to pay $83 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s Federal Housing Administration that did not meet applicable requirements. As part of the settlement, BB&T admitted that it certified for FHA insurance mortgage loans that did not meet HUD underwriting requirements and did not adhere to FHA’s quality control requirements. DOJ
Tagged in: FCA Federal, Housing and Mortgage Fraud,