Violation Tracker Individual Record

Company: 
Guaranteed Rate Inc.
Current Parent Company: 
Guaranteed Rate Inc.
Penalty: 
$15,060,000
Year: 
2020
Date: 
April 29, 2020
Offense Group: 
government-contracting-related offenses
Primary Offense: 
False Claims Act and related
Secondary Offense: 
mortgage abuses
Violation Description: 

Guaranteed Rate Inc. agreed to pay the United States $15.06 million to resolve allegations that it violated the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act by knowingly violating material program requirements when it originated and underwrote federally insured mortgages.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Civil Division
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Illinois
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
mortgage lending
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.