The U.S. government Oct. 9 asked a federal judge in New York for millions in damages against Wells Fargo Bank N.A., claiming the bank submitted false certifications on thousands of mortgage loans that resulted in huge insurance payouts by the Federal Housing Administration (United States v. Wells Fargo Bank N.A.).
The 193-page complaint filed in the U.S. District Court for the Southern District of New York, which marks the latest civil fraud action against lenders under the False Claims Act, said the bank failed to meet its obligations under the FHA’s Direct Endorsement Lender program in statements to ...
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