Bank of America, JPMorgan, Chase, Wells Fargo, Citigroup and Ally Financial SeeK To Settle Foreclosure Fraud Case of $20 Billion

The country’s largest mortgage companies are trying to end a fraud case against them for widespread foreclosure abuse for payment of $20 billion. Federal investigators found that mortgage handlers illegally seized homes and improperly accelerated foreclosure proceedings and faking the paperwork. In some cases, lawyers lied to judges. These practices have also given rise to a number of whistleblower cases under the False Claims Act as the mortgages were insured by the federal government.Settlement discussions on the major case is now under way. Jeffrey Newman represents whistleblowers nationwide.