Settlement Announced: $320 Million Mortgage Fraud (HUD backed home loans). Taylor Bean & Whitaker Mortgage Corporation and Home America Mortgage, Inc. agreed to pay $320 million to settle a False Claims Act whistleblower case which alleged that the defendants had falsified loan applications, created false documentation, and misrepresented qualifications of applicants in order to secure federally-funded insurance for home loans that ultimately defaulted. The case is captioned: United States ex rel. Friddle and Kennedy v. Taylor Bean & Whitaker Mortgage Corporation et al., Civil Action No. 06-cv-3023-JEC (N.D. Ga.).
$320 Million Mortgage Fraud
