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MILBERG LLP > Did Financial Institutions Improperly Charge U.S. Veterans Mortgage Fees?

Did Financial Institutions Improperly Charge U.S. Veterans Mortgage Fees?

Free Mortgage Firm Fraud Claim Evaluation

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A massive fraud was allegedly perpetrated against veterans and U.S. taxpayers by 13 banks and mortgage firms including Wells Fargo, JPMorgan Chase & Co., Bank of America, and GMAC Mortgage.  Up to 90% of more than 1.2 million refinanced loans made to veterans and their families may have been affected by the alleged fraud.

Pursuant to the U.S. Department of Veterans Affairs (“VA”) rules, these lenders were permitted to charge veterans reasonable and customary fees such as title examination fees and taxes, but they were prohibited from charging veterans for attorneys’ fees and settlement closing costs in connection with the loans.  Banks circumvented this rule by misrepresenting from $300 to $1,000 per loan of prohibited fees as allowable fees, resulting in veterans being improperly charged for hundreds of millions in illegal fees.

The case has been under investigation since it was filed in 2006 and was unsealed on October 4, 2011.

If you would like more information about this, please fill out the form on the right or contact the following attorney:

Andrei Rado, Esq.
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: arado@milberg.com

Milberg LLP has been representing consumers and investors for more than four decades and serves as lead counsel in federal and state courts throughout the United States.  Please visit the Milberg website for more information about the Firm.

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