The Top 10 Reverse Mortgage Stories of 2020

It’s likely fair to say that compared with the outlook one year ago, as we were anticipating the arrival of 2020 in the waning days of the prior year, things generally worked out quite a lot differently than people were expecting. 2020 brought with it an enormous set of challenges for people all over the […]

U.S. Department of Justice Files Complaint Against Reverse Mortgage Company

The United States Department of Justice (DOJ) has filed a complaint against a reverse mortgage company for allegedly forging certifications and using unqualified underwriters to approve Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) loans originated between 2008 and 2010. Nutter Home Loans (formerly known as James B. Nutter & Co.) allegedly undertook these […]

FAR Settles with DOJ Over Alleged 2010 FCA Violations by Urban Financial

The United States Department of Justice (DOJ) announced this week that it has settled with Finance of America Reverse (FAR) to resolve allegations that FAR’s predecessor entity – Urban Financial Group – violated the False Claims Act (FCA) by knowingly originating and underwriting Home Equity Conversion Mortgage (HECM) loans insured by the Federal Housing Administration […]

Justice Department Urges Supreme Court to Protect CFPB

The U.S. Department of Justice (DOJ) has filed a brief with the United States Supreme Court in a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB), urging the Court to protect the Bureau due to its “critical work” on behalf of American consumers. This is according to a copy of the brief […]

HUD and DOJ Release Guidance on False Claims Act Violations

U.S. Department of Housing and Urban Development (HUD) Secretary Dr. Ben Carson and U.S. Attorney General William Barr signed an inter-agency memorandum of understanding (MOU) on Monday, setting “prudential guidance” on the appropriate use of the False Claims Act (FCA) for violations by Federal Housing Administration (FHA) lenders. The MOU between HUD and the Department […]