ALBANY, NEW YORK – Movement Mortgage, LLC, has agreed to pay the United States $23.75 million to resolve allegations that it violated the False Claims Act by failing to comply with material program requirements when it originated and underwrote mortgages insured by the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA), United States Attorney Carla B. Freedman announced today. Movement Mortgage is headquartered in Indian Land, South Carolina, with loans underwritten across the United States, including in upstate New York.
“Lenders participating in mortgage programs backed by taxpayers must follow rules designed to protect both program integrity and homeowners,” said United States Attorney Freedman. “Today’s settlement holds Movement Mortgage accountable for its past violations, while acknowledging that it has taken steps to strengthen its internal controls to ensure future compliance with FHA and VA requirements.”
Participants in FHA insurance and VA guarantee programs, like Movement Mortgage, have the authority to originate and underwrite mortgages without first having the government review the loans for compliance with the agency’s underwriting and origination requirements. If an FHA insured or VA guaranteed loan defaults, the holder of the loan may submit a claim to the United States for certain losses. Lenders are therefore required to follow FHA and VA rules designed to...
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