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Violation Tracker Individual Record

Company: Academy Mortgage Corporation
Current Parent Company: Academy Mortgage Corp.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $38,500,000
Year: 2022
Date: December 14, 2022
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Secondary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Mortgage company Academy Mortgage Corporation agreed to pay $38.5 million to resolve allegations it violated the False Claims Act by improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA).
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: civil
Facility State: Utah
Facility City: Draper
HQ Country of Current Parent: USA
HQ State of Current Parent: Utah
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: home mortgage lending
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.