National mortgage lender agrees to $48M settlement with DOJ

mortgage lender $48M settlement with DOJOn December 28, the US Department of Justice (DOJ) issued a press release announcing it reached a settlement with a national mortgage lender to resolve allegations that the lender violated the False Claims Act by originating mortgage loans that failed to meet applicable underwriting standards. United Shore Financial Services, LLC (USFS) will pay $48 million to the United States.

According to the settlement agreement, USFS endorsed loans for Federal Housing Administration (FHA) insurance that did not meet all FHA underwriting requirements.