In a False Claims Act whistleblower case that Trump Administration officials attempted to dismiss, Academy Mortgage agreed to pay $38.5 million to resolve allegations of improper origination and underwriting practices for Federal Housing Administration loans.
The whistleblower, Gwen Thrower, will receive over $11.5 million of the settlement proceeds, with the government getting the rest, the Justice Department said. Thrower initiated the suit in 2016 under the qui tam provision of the False Claims Act.
"Despite the U.S. Government asking the court to dismiss the case multiple times, Academy made a business decision to settle the case to mitigate additional costs and disruption of further litigation," an Academy Mortgage statement said. "As stated by the Department of Justice, 'The claims resolved by the settlement are allegations only and there has been no determination of liability.
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