Violation Tracker Individual Record

Company: 
First Mortgage Corporation
Penalty: 
$12,700,000
Year: 
2016
Date: 
May 31, 2016
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

A California-based mortgage company and six senior executives agreed to pay $12.7 million to settle charges that they orchestrated a scheme to defraud investors in the sale of residential mortgage-backed securities guaranteed by the Government National Mortgage Association.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.