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Tag Archives: Department of Justice

Quicken Loans Raises Speculation of Exiting FHA Home-Loan Program

Earlier this year, the nation's third-largest mortgage lender and the Department of Justice went back and forth in a legal battle accusing the lender of improperly originating and underwriting Federal Housing Administration-insured mortgages. This battle could very well be the lender's motivation to leave the government program alone for good.

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DOJ May Target RBS, JPMorgan Executives for Criminal Roles in Financial Crisis

The U.S. may be following through on promise made a few months ago to target individual executives from the Royal Bank of Scotland and JPMorgan Chase for their alleged criminal role in financial crisis. In September, the Department of Justice issued a memo to all U.S. state attorneys general stating that it will pursue the prosecution of individuals whose actions brought on the Great Recession of seven years ago. The DOJ is reportedly standing by their word and pursuing criminal cases against executives at these two banking institutions for allegedly selling flawed mortgage securities after being warned by associates of their wrongdoings.

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First Horizon Settles Outstanding Mortgage Matter With HUD and DOJ

This week, First Horizon National Corp. announced that First Tennessee, the regional bank for First Horizon, reached an agreement with HUD and the U.S. Department of Justice to settle claims related the mortgage business the company sold in 2008. As part of the settlement, First Tennessee has committed to make a cash payment of $212.5 million.

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