General World News

American Financial Network to pay $1M fee to resolve fraud allegations

Brea, California-based direct lender American Financial Network will pay about $1.04 million to resolve allegations that it fraudulently originated government-backed mortgage loans insured by the Federal Housing Administration (FHA).

The settlement agreement announced by the United States Attorney for the Eastern District of Washington on Tuesday puts an end to a joint investigation conducted by the U.S. Attorney’s Office for the Eastern District of Washington, U.S. Department of Housing and Urban Development (HUD), and the U.S. Department of Veterans Affairs after a former loan processor with AFN filed a lawsuit against the California lender in March 2019. 

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