Former exec blows the whistle on Walter Investment, leads to $30M mortgage fraud settlement with the feds

Walter Investment Management Corp. has agreed to pay $29.6 million to resolve allegations it submitted false claims to the federal government.

The case is a “significant milestone” in the fight against mortgage fraud, according to the U.S. Attorney for the Middle District of Florida, A. Lee Bentley III.

Walter (NYSE: WAC), a mortgage banking firm headquartered in Tampa, was accused in a lawsuit of submitting bogus claims to the U.S. Department of Housing and Urban Development in connection… …read more