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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 ...

Ladder Capital (LADR) Hits New 52-Week High at $16.94

Ladder Capital Corp operates as a real estate investment trust in the United States. The company operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates conduit first mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet first mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning. It also invests in note purchase financings, subordinated debt, mezzanine debt, and other structured finance products related to commercial real estate. The Securities segment invests in commercial mortgage-backed securities and the U.S. Agency Securities.

Allied Home Mortgage ordered to pay $296 million for widespread FHA fraud

Under those guidelines, Hanks trebled the $92 million in damages. Hanks also imposed a penalty of $10,000 for each violation of the FCA found by the jury for a total of $12,950,000 in FCA penalties, and the maximum $1.1 million penalty for each violation of FIRREA for a total of $6.6 million in FIRREA penalties.

That brings the total judgment to $296,298,325.

Hodge is also liable for more than $25 million in damages and penalties.

“Jim Hodge and Allied defrauded a federal mortgage insurance program designed to help spread the dream of homeownership, and then lied about it repeatedly,” Joon H. Kim, the Acting United States Attorney for the Southern District of New York, said in a statement. “A jury saw through their lies, and now the Court has imposed millions of dollars in additional penalties. This Office will continue to investigate and root out fraud in all of its forms.”

When the government first announced the jury’s decision against Allied and Hodge, it detailed the conduct that led to this massive fine.

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