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Volume 11 - Number 25

December 14, 2018

FoA Agrees to FCA Settlement; DOJ, IGs Resolve Billing Fraud Case

Finance of America Ė a Blackstone Group portfolio company Ė has agreed to pay $14.5 million to the government to resolve allegations that its operating subsidiary, Gateway Funding Diversified Mortgage Services, knowingly endorsed ineligible loans, resulting in losses to the FHA insurance fund.

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Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

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Time for a change. Borrowers are different today.


Undecided, still assessing the situation.