Once upon a time, nearly a decade ago, the Federal National Mortgage Association – Fannie Mae – filed suit against a Brooklyn based mortgage company, Olympia Mortgage. When the complaint was filed in 2004, the real estate market was red hot, Fannie Mae was a privately owned company and few imagined the coming housing market […]
False Claims Act & Whistleblowers – The DOJ’s Best Weapon Against Bank Fraud
by Brian Mahany Several time we have posted stories about the many fraud cases against big banks. Our $2.4 billion case against Allied Home Mortgage was started by a whistleblower. Last month’s case against Bank of America was also brought by a whistleblower. Why do folks come forward and file these cases? Good question. For many, its simply the […]