If you believe in the rule of law, and if you are tired of crimes going unpunished, well then, you have to appreciate the job being done by Attorney General Jeff Sessions and the Department of Justice.
Sessions and his team continue to punish criminals at a neck-breaking pace. Each day, there is another amazing press release that makes me feel like something is actually getting done in D.C.
For years, we’ve all complained about how the big mortgage lenders get away with dishonest business practices, leaving the little guy holding the bag. Well, today, Jeff Sessions is making one of the lenders pay up.
On Thursday, the Justice Department announced that PHH Corp., PHH Mortgage Corp., and PHH Home Loans (collectively, PHH) agreed to pay over $74 million to resolve alleged False Claims Act liabilities arising from mortgage lending.
Below is the full release with all the details. I urge you to share this story on your social media page. Let people know that “things” are being done to make America great again.
START OF RELEASE…
PHH Agrees to Pay Over $74 Million to Resolve Alleged False Claims Act Liability Arising from Mortgage Lending
PHH Corp. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA), guaranteed by the United States Department of Veterans Affairs (VA), and purchased by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) that did not meet applicable requirements, the Justice Department announced today. PHH is headquartered in Mount Laurel, New Jersey, and PHH Home Loans operates in Edina, Minnesota. PHH has agreed to pay $65 million to resolve the FHA allegations and $9.45 million to resolve the VA and FHFA allegations.