Universal American Mortgage Company, LLC, Agrees to Pay $13.2 Million to Resolve False Claims Act Allegations Related to FHA Mortgage Insurance
During the period covered by the settlement, UAMC participated as a direct endorsement lender (DEL) in the
"Mortgage lenders may not ignore material FHA requirements designed to reduce the risk that borrowers will be unable to afford their homes and federal funds will be wasted," said Assistant Attorney General
"In a quest for profits, mortgage companies have ignored important lending standards" said
"One of our principal responsibilities is to protect and ensure the integrity of federal housing programs for the benefit of all Americans," said
"FHA depends upon the lenders we do business with to apply our standards and to truthfully certify that they've done so," said
The settlement resolves allegations originally brought by
This matter was handled on behalf of the government by the
Letter From Col. Brian S. Laidlaw, 325th Fighter Wing Commander
Building at Quincy Veterans’ Home Named for Local Medal of Honor Recipient
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News