METLIFE HOME LOANS has agreed to settle its claims on its mortgage lending violations for $123.5 million. Metlife Home Loans’, a mortgage finance company out of Irving Texas, violations stem from allegations that it violated lending regulations that contributed to the mortgage foreclosure debacle. Under the False Claims Act, Metlife is being held accountable for its contribution to the financial distress across the country. It is alleged that it knowingly “originating mortgage loans insured by the FHA and the US Department of Housing and Urban Development (HUD) that did not meet applicable requirements”. Source – DS News Article February 26, 2015.
Pursuant to the Metlife Settlement, Acting Assistant Attorney General Joyce R. Branda stated, “Metlife Bank’s improper FHA lending practices not only wasted taxpayer funds, but also inflicted harm on homeowners and the housing market that last to this day” said Acting Assistant Attorney General Joyce R. Branda of the Justice Department. Metlife further admitted its wrongdoing in its FHA-insured mortgage loans that did not meet underwriting requirements.
If you have a mortgage loan that originated with Metlife you may be entitled to compensation or settlement. Speak to an attorney today to discuss your options. The first consultation is always free of charge with attorney Jacqueline A. Salcines, Esq.
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