Advanced Search

Volume 11 - Number 1

January 12, 2018

Florida District Court Allows U.S. to Intervene in FHA FCA Suit v. BofA

A federal district court in Florida has agreed to a government motion to intervene in a False Claims Act lawsuit against Bank of America in order to reach a settlement on behalf of a relator. Bruce Jacobs, a foreclosure attorney and relator in South Florida, filed the lawsuit. A former Miami prosecutor, he now represents homeowners in foreclosure proceedings initiated by financial institutions, including BofA. In his lawsuit, Jacobs alleged that BofA submitted false claims in violation of the FCA. Specifically, the bank allegedly submitted endorsements with unauthorized signatures and false mortgage assignments that would confer standing to foreclose. In addition, Jacobs additionally asserted a reverse FCA claim alleging that BofA made false statements when entering into the 2012 National Mortgage Settlement (NMS) consent judgment with the U.S. government. The landmark $25 billion settlement with ...

Subscribers to Inside FHA/VA Lending have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

This biweekly resource helps mortgage executives grow and manage their FHA business.

 

Pay-Per-View

You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

vote to see results