HUD Audits Reveal Massive Bank Fraud On Mortgage Documents New Charges Looming

Five separate investigations conducted by the Department of Housing and Urban Development’s inspector general examined The Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial and major charges of violating the False Claims Act which are expected to be issued and prosecuted by the Department of Justice. The audits conclude that the banks apparently cheated the taxoayers by rendering false information to Federal Housing Administration. They fiked fir federal reimbursement on foreclosed homes that sold for less than the outstanding loan balance using fraudulent documents.