INDIAN LAND, S.C. (QUEEN CITY NEWS) – A local mortgage company that has a national footprint will pay a lofty fine for violating the False Claims Act, the U.S. Attorney’s Office for the Northern District of New York announced this week.
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Indian Land-based Movement Mortgage will pay just under $24 million over allegations the company failed to comply with underwriting for mortgages, court documents showed.
The company handles mortgages across the United States, including upstate New York.
“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,” the U.S. Attorney’s Office said.
The Justice Department specifically states Movement failed to comply with rules to “maintain quality control programs to prevent and correct underwriting deficiencies, self-report any materially deficient loans that they identify, and ensure that the underwriting process is free from conflicts of interest.”
The company admitted to certifying material that did not meet requirements as part of the agreement. The conduct stretches all the way back to 2008.
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