Reverse Mortgage Lender Settles for $89 Million in Whistleblower Case
Recently, a large reverse mortgage lender settled a whistleblower case alleging violations of the False Claims Act and Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). The lender allegedly sold reverse mortgage loans insured by the Federal Housing Administration’s (FHA) mortgage insurance program and then allegedly collected interest payments from the FHA under that coverage. However, the government claimed the lender was not entitled to those payments having allegedly failed to comply with numerous FHA disclosure requirements when the mortgages were booked. If you or some you love has been the victim of any kind of fraud or financial abuse as a result of a reverse mortgage please contact the experienced reverse mortgage attorneys at Evans Law Firm today at (415)441-8669. We handled reverse mortgage and financial elder abuse cases throughout the State of California.
Whistleblower Sandra Jolley reported her findings of the lender’s alleged failure to disclose and overcharging the FHA to government authorities in accordance with the whistleblower provision of the FIRREA. Jolly commits her career to being an advocate and consultant for estates of individuals who took out reverse mortgages in their lifetime. For her work and report, Jolly received $1.6 million as part of the settlement.
Whistleblowing, while difficult, can be rewarding. Make sure you seek the advice of experienced counsel as whistleblower cases are extremely complex and the reporting rules very stringent. Also, know that your case will take time; whistleblower cases take years from initiation to conclusion. If you have information regarding a whistleblower case, call Evans Law Firm today at 415-441-8669. The consultation is free, and the rewards of reporting wrongdoings can be immense.
If you or a loved one has information regarding a whistleblower case, contact the Evans Law Firm whistleblower attorneys at (415) 441-8669, or by email at firstname.lastname@example.org. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.