What you need to Know about Financial Freedom Reverse Mortgage Settlement with the US Government for Alleged Fraud

Earlier this month, the US Dept. of Justice announced an $89 million settlement with CIT Group, the parent company of Financial Freedom.

As we explained in an earlier post, the Dept. of Justice declined to say whether they spoke with homeowners as part of the investigation.

Here’s some of the coverage of the settlement:

The Intercept: Steve Mnuchin’s Old Company Just Settled for $89 Million for Ripping Off the Government on Dodgy Loans 

Reuters: Mnuchin’s former bank in $89 mln settlement over reverse mortgages (CIT)

DS News: OneWest’s Financial Freedom Settle Allegations

CNN: Mnuchin’s former bank agrees to $89 million settlement with the U.S. government 

Reverse Mortgage Daily: Financial Freedom to Pay $89M Over Missed Reverse Mortgage Deadlines

HousingWire: Mnuchin’s OneWest subsidiary agrees to $89M settlement for reverse mortgage violations

ThinkProgress: Bank previously run by Trump’s treasury secretary pays big fine for defrauding the government

MortgageOrb: OneWest’s Financial Freedom Fined $89M For Improperly Servicing HECM Loans

 

 

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