The lawsuit filed in 2017 by a former Guaranteed Rate underwriter—who now stands to receive more than $2.4 million of the settlement money—claimed that the company made false statements to “induce the government” into insuring ineligible home loan mortgages.
“Today’s settlement holds Guaranteed Rate accountable for its past violations and reflects that it has strengthened its internal controls to ensure future compliance with Federal Housing Administration and Department of Veterans Affairs requirements,” Grant Jaquith, U.S. Attorney for the Northern District of New York, said in a statement.
