Jun 10, 2009By Diana Golobay
The latest effort by US officials to crack down on costly mortgage fraud culminated in a lawsuit Tuesday after two federally-guaranteed mortgage defaults cost the government almost $26m. The US Justice Department filed suit against California-based mortgage lender Capmark Finance, seeking treble damages and penalties. The charges, filed in the US District Court in Los Angeles, alleges Capmark made false statements on applications for federal mortgage insurance covering residential nursing homes.
