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Mortgage Fraud

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  1. Fannie Mae
  2. Freddie Mac
  3. Mortgage Companies
  4. Foreclosures
  5. Countrywide Financial
  6. Raj Rajaratnam
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U.S. seizes on ruling to boost Wells Fargo mortgage fraud case

The Justice Department has promptly capitalized on a court victory to bolster a case before another federal judge, citing a ruling on Wednesday that endorsed the agency's use of a little known financial fraud law to prosecute bank actions during the financial crisis.In a letter made public on Thursday, the agency told District Judge Jesse Furman on Wednesday that the ruling is one reason why its mortgage-fraud case against Wells Fargo & Co should not be dismissed.U.S. District Judge Lewis Kaplan made that ruling in a lawsuit against Bank of New York Mellon , which the Justice Department accuses of overcharging clients for trading currencies.The government's cases against Wells Fargo and BNY Mellon and a third lawsuit against Bank of America Corp rely in part on the Financial Institutional Reform, Recovery and Enforcement Act of 1989 (FIRREA).The law addressed fraud during the savings and loan crisis of the 1980s and 1990s, in which hundreds of U.S. thrifts failed and prompted a multibi...

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  1. U.S. Sues BofA for $1B in Mortgage Fraud Suit

    Bank of America's (NYSE:BAC) legal headaches continue to mount as the U.S. filed suit against the banking giant on Wednesday, seeking more than $1 billion in damages...

  2. Bank of America Sued for Mortgage Fraud

    FBN's Liz MacDonald on details of the U.S. Attorney suing Bank of America for over $1B for alleged mortgage fraud .

  3. U.S. Sues B Of A For Mortgage Fraud

    The U.S. said Wednesday it has filed a civil lawsuit against Bank of America Corp. for mortgage fraud. The suit, filed by the U.S. attorney for the Southern District...

  4. U.S. Sues BofA for $1B in Mortgage Fraud Suit

    The U.S. said Wednesday it is suing Bank of America (NYSE:BAC) for allegedly "engaging in a scheme to defraud" Fannie Mae and Freddie Mac between 2007 and 2009. A pr...

  5. U.S. sued Bank of America over alleged mortgage fraud

    The United States on Wednesday filed a civil mortgage fraud lawsuit against Bank of America Corp , accusing it of deliberately generating and then selling thousands ...

  6. RBS To Pay $42 Mln Over Mortgage Misrepresentation

    A unit of Royal Bank of Scotland Group will pay a $42 million fine for its role in buying and securitizing subprime mortgages issued by lenders who potentially decei...

  7. Where Are the Mortgage Fraud Convictions?

    When the government decided a few years back to target insider trading on Wall Street, it set its sights high, and Raj Rajaratnam is now sitting in a prison cell.Wit...

  8. U.S. sues Wells Fargo in mortgage fraud case

    The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest legal volley against big banks for their lending during the ...

  9. U.S. files mortgage fraud lawsuit against Wells Fargo

    The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest legal volley against big banks for their lending during the ...

  10. U.S. Files Suit Against Wells Fargo

    The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest legal volley against big banks for their lending during the ...

  11. U.S. Sues Wells Fargo; Shares Down 1.8%

    U.S. Attorney for the Southern District of New York Preet Bharara filed a civil lawsuit against Wells Fargo Bank NA for millions of dollars in damages for mortgage f...

  12. PRESS RELEASE: Manhattan U.S. Attorney Files -2-

    Preet Bharara, the United States Attorney for the Southern District of New York, HelenKanovsky, General Counsel of the U.S. Department of Housing and Urban Developme...

  1. SAC Capital Reaches Conditional Settlement With SEC

    Berenzweig Leonard Partner Seth Berenzweig on a judge giving the OK to a $602M SAC Capital settlement pending separate ruling.

  2. Goldman fails to dismiss Prudential mortgage fraud lawsuit

    Goldman Sachs Group Inc must face a lawsuit in which Prudential Financial Inc accused the Wall Street bank of defrauding it into buying more than $375 million of res...

  3. Protect Yourself From Crooked Mortgage Broker

    The carnage of the housing crisis and resulting foreclosures have left prospective homebuyers a little wiser and a lot more skittish. Many borrowers are looking at m...

  4. Hey, Uncle Sam: Land Trust Scams on the Rise

    The Great Recession has triggered a rising tide of real estate and tax abuse centered around land trusts that is going ignored, the Internal Revenue Service, Congres...

  5. Timeline: U.S. government's rescue and sale of AIG

    The U.S. Treasury said on Monday it would sell the last of its remaining AIG shares, rounding off a $182 billion bailout that began during the financial crisis.Follo...

  6. NY AG Sues Credit Suisse

    FBN's Robert Gray on details of the New York Attorney General suing Credit Suisse over $11.2B in mortgage fraud .

  7. U.S. sues Bank of America over "Hustle" mortgage fraud

    The United States filed a fraud lawsuit against Bank of America Corp, accusing it of causing taxpayers more than $1 billion of losses by selling thousands of toxic m...

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