MahanyLaw, a leading national False Claims Act / Whistleblower law firm is seeking information about possible improprieties by Freedom Mortgage Corporation. Freedom bills itself as a leading (top 10) VA lender but one veteran has told us a very different story.
The vet we spoke to reports that he was improperly charged appraisal fees in violation of HUD and VA requirements. Specifically, we have learned that Freedom may be in violation of the following rules:
- Charging for appraisals even if none have been performed,
- Upcharging the cost of the appraisal in violation of RESPA rules
- Quoting no closing fee loans yet charging for appraisals
- Charging for appraisals for borrowers that Freedom know will not qualify for a mortgage
- Failing to provide an accurate good faith estimate of closing costs and fees.
Fees such as those charged for appraisals should not be a profit center. If a bank or lender charges too much for closing costs or appraisals they may be breaking the law.
Those hoping to buy their first home often have to really scrape together their funds. Companies that advertise no closing costs or charge excess costs hurt home buyers. They are also guilty of breaking the law.
Normally, a home buyer isn’t going to have extra money to hire a lawyer. Especially when the amount in controversy is $375, more or less. But if this activity is happening on a widespread, it may be fodder for a class action. A class action lawsuit allows a group of individuals to pursue their claims as a group.
MahanyLaw is a whistleblower and lender liability law firm that brings action against large lenders and banks. We were proud to be one of the lead lawyers in the recent $16.65 billion Bank of America action and in the government’s on-going $2.4 billion case against Allied Home Mortgage. We also represent homeowners in class actions.
If you worked at Freedom Mortgage and have information, we want to speak with you. As part of our due diligence, we are investigating the claims noted above. If you were a customer of Freedom and suffered a similar tail, we certainly wish to speak with you as well.
Veterans deserve our respect and gratitude. They certainly shouldn’t be nickeled and dimes out of hundreds of dollars. $375 not sound like much but how would you feel if someone wrongfully took that money from your pocket?
MahanyLaw – America’s Whistleblower Lawyers