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Violation Tracker Individual Record

Company: Walter Investment Management Corp.
Current Parent CompanyDitech Holding Corporation
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $29,630,000
Year: 2015
Date: September 4, 2015
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Secondary Offense: mortgage abuses
Mega-ScandalMortgage Abuses
Violation Description: Walter Investment Management Corp. agreed to pay $29.63 million to resolve allegations that through its subsidiaries -- Reverse Mortgage Solution Inc., REO Management Solutions LLC and RMS Asset Management Solutions LLC -- it violated the False Claims Act in connection with participation in the Department of Housing and Urban Development's Home Equity Conversion Mortgages program, which insures reverse mortgage loans.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Pennsylvania
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: home loans
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.