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American Financial Network Inks $1M Mortgage Fraud Settlement

Friday, Jul 08 2022
Originating
Written by  The Mortgage Leader

Federal prosecutors have announced that California mortgage lender American Financial Network has agreed to pay more than $1 million to settle charges that it fraudulently originated government-backed mortgage loans.

AFNThe deal resolves allegations that from 2011 to 2019, American Financial Network knowingly underwrote certain FHA mortgages that did not meet FHA requirements.

The case arose when a former American Financial Network loan processor filed a whistleblower complaint in March 2019.

Read the full announcement from the Department of Justice's U.S. Attorney's Office for the Eastern District of Washington. 

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