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Allied Mortgage Capital

Home Loans Chester VA Allied Home Mortgage Capital Corp.

(804) 796-1173 Home Loans Chester VA Mortgage Loan Refinance Finance Lending Modifications Hard Money Stream Line FHA VA www.mortgageasap.com Our ...

Judge says Texas mortgage companies owe $296.3 mln to US government

“Jim Hodge and Allied defrauded a federal mortgage insurance program designed to help spread the dream of homeownership, and then lied about it repeatedly,” Kim said in a statement.

A lawyer for the defendants did not immediately respond to a request for comment.

Allied Home Mortgage has been renamed AllQuest Home Mortgage Corp, while Allied Home Mortgage Capital was renamed Americus Mortgage Corp.

The lawsuit became public in 2011, when Bharara joined a lawsuit brought by a whistleblower. It moved to Texas in 2012.

Allied and Hodge were accused of falsely certifying to the Federal Housing Administration that thousands of risky home loans were eligible for insurance and operating more than 100 “shadow” branch offices that issued FHA-insured mortgage loans without the necessary approval.

Triple damages are mandatory under the False Claims Act, but the defendants said there were no damages to triple because the government failed to show that violations of that law were the “proximate” cause of its losses.

First Allied Advisory Services Inc. Decreases Holdings in Vanguard Mortgage Bkd Sects ETF (VMBS)

First Allied Advisory Services Inc. trimmed its position in Vanguard Mortgage Bkd Sects ETF (NASDAQ:VMBS) by 35.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,495 shares of the exchange traded fund’s stock after selling 3,565 shares during the period. First Allied Advisory Services Inc.’s holdings in Vanguard Mortgage Bkd Sects ETF were worth $338,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VMBS. Charles Schwab Investment Advisory Inc. lifted its holdings in Vanguard Mortgage Bkd Sects ETF by 12.5% in the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 20,015,904 shares of the exchange traded fund’s stock valued at $1,054,037,000 after purchasing an additional 2,217,761 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Vanguard Mortgage Bkd Sects ETF by 39.6% in the 2nd quarter. Wells Fargo & Company MN now owns 3,586,395 shares of the exchange traded fund’s stock valued at $188,860,000 after purchasing an additional 1,017,298 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Vanguard Mortgage Bkd Sects ETF by 15.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,364,909 shares of the exchange traded fund’s stock valued at $282,469,000 after purchasing an additional 706,895 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in Vanguard Mortgage Bkd Sects ETF by 64.1% in the 2nd quarter. IndexIQ Advisors LLC now owns 700,072 shares of the exchange traded fund’s stock valued at $36,866,000 after purchasing an additional 273,423 shares in the last quarter. Finally, Sawtooth Solutions LLC lifted its holdings in Vanguard Mortgage Bkd Sects ETF by 1,004.4% in the 2nd quarter. Sawtooth Solutions LLC now owns 281,829 shares of the exchange traded fund’s stock valued at $14,841,000 after purchasing an additional 256,310 shares in the last quarter.

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