Finance of America Mortgage

NY 2018 Community Banks / Credit Unions

DOJ False Claims Act

Penalty

$14.5 million

Outcome

Finance of America Mortgage to Pay $14.5 Million to Resolve False Claims Act Liability Involving FHA Mortgage Lending

Details

Finance of America Mortgage — DOJ Enforcement (2018)

DOJ took enforcement action against Finance of America Mortgage in NY in 2018 involving false claims act violations in the Community Banks / Credit Unions sector.

Penalty: $14.5 million

Violation types: False Claims Act
Entity type: Financial Institution
Penalty type: Settlement
Location: NY

Source: DOJ Press Release — Finance of America Mortgage to Pay $14.5 Million to Resolve False Claims Act Liability Involving FHA Mortgage Lending

How Crucible Prevents This

Crucible's billing compliance controls enforce documentation-to-claims reconciliation and flag billing anomalies before false claims are submitted.

Source: DOJ Press Release — Finance of America Mortgage to Pay $14.5 Million to Resolve False Claims Act Liability Involving FHA Mortgage Lending

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