Estimated reading time: 0 minutes, 25 seconds

American Financial Network Inks $1M Mortgage Fraud Settlement

Federal prosecutors have announced that California mortgage lender American Financial Network has agreed to pay more than $1 million to settle charges that it fraudulently originated government-backed mortgage loans.

AFNThe deal resolves allegations that from 2011 to 2019, American Financial Network knowingly underwrote certain FHA mortgages that did not meet FHA requirements.

The case arose when a former American Financial Network loan processor filed a whistleblower complaint in March 2019.

Read the full announcement from the Department of Justice's U.S. Attorney's Office for the Eastern District of Washington. 

Read 1175 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.