settlement 01South Jersey mortgage bank pays $113M to settle False Claims Act violations

 

This is a bizjournals.com article.

 

Mount Laurel, N.J.-based banker Freedom Mortgage Corp. has agreed to pay $113 million to settle allegations that it violated the False Claims Act by knowingly misleading the the Federal Housing Administration (FHA) into insuring hundreds of risky mortgages, causing the government to incur substantial losses, federal prosecutors in New Jersey said Friday.

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PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”