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Posts Tagged ‘BAC mortgage fraud whistleblower’

Whistleblower Receives $14.5 Million for Bank of America Mortgage Fraud Case

Kyle Lagow, a former home appraiser, will receive $14.5 million as part of a whistleblower lawsuit that accused subprime lender Countrywide Financial of inflating appraisals on government-insured loans.  Lagow’s lawsuit led to an investigation that resulted in a $1 billion settlement, announced in February, between Bank of America Corp (NYS: BAC) which acquired Countrywide in 2008 and the U.S. Justice Department.  The DOJ officials alleged that Countrywide engaged in mortgage fraud. 

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