$74 Million Settlement over a False Claims Act Allegations Against PHH Corporation Announced by Whistleblower Institute
The Whistleblower Institute announces that PHH Corporation reached a $74 million settlement in a whistleblower lawsuit filed by a former employee over knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development's (HUD) Federal Housing Administration (FHA), guaranteed by the United States Department of Veterans Affairs (VA), and purchased by the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Mortgage Corporation ("Freddie Mac") that did not meet applicable requirements.
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