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Six Whistleblowers Awarded $46.5 Million in Foreclosure Settlement

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Lynn Szymoniak has been awarded $18 million as a result of her part in whistleblower lawsuits filed against mortgage lenders, Bank of America, Wells Fargo, JPMorgan Chase, Citigroup, and Ally Financial.

Szymoniak’s lawsuit alleged that the mortgage lenders were using false documents to prove ownership of defaulted mortgages, which they then submitted insurance claims on to the Federal Housing Administration. According to CNN Money, Szymoniak spotted a forgery in the documents related to her foreclosure case. Szymoniak could get an even bigger payout when later, as her case was only partially resolved by the settlement.

The five other whistleblowers who won in the settlement include Kyle Lagow, who accused a subsidiary of Countrywide Financial of deliberately inflating home appraisals to collect higher claims; Gregory Mackler, who accused Bank of America of violating its government HAMP agreement by pushing homeowners towards foreclosure instead of HAMP modifications; Brian Donnelly and Victor Bibby, who accused the banks of overcharging veterans on mortgages guaranteed by the Department of Veteran Affairs; and JPMorgan Chase Prime Division Assistant Vice President Robert Harris, who accused his employer of failing to help homeowners who were seeking HAMP medications.

 

breakinglawsuitnews.com disclaimer: This article: Six Whistleblowers Awarded $46.5 Million in Foreclosure Settlement was posted on Monday, July 2nd, 2012 at 9:09 pm at breakinglawsuitnews.com and is filed under Fraud Lawsuits.

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