Heart silver is appealed to dollar of billion of claim for compensation

　　Hong Kong reports Wu Yongda

Local time on May 3, american judiciary sues heart volition bank formally (next weighing that heart is silver-colored) , the Mortgage IT company that points to travel and this its subordinate uses bilk method to obtain commitment of insurance of mortgage debt federal again and again, and claim for compensation 1 billion dollar. Because of,heart silver is " fraudulent statement law " (the bank of first mortgage loan that False Claims Act) is sued, should go when credit bubble approachs peak to buy Mortgage IT(in order to restrain 429 million dollar to trade to finished) in January 2007.

And the inquisitor PreetBharara that is in charge of sueing points to say, the company came 1999 approve exceeds 39 thousand guaranty to obtain confederative housing management board during 2009 (the loan that FHA) assures, amount exceeds 5 billion dollar. Heart volition bank mortgages through selling these loan capital fund gains profit subsequently.

Nevertheless, person of word of heart silver hair denied relevant accusation.

　　 "Endless duty " investigation

1999 - between 2009, mortgage IT participated in American housing and urban progress department (management board of housing of HUD) follower federal (of FHA) " person of direct support loan " (DirectEndorsement Lender) project, authority approves a loan that assures by FHA. The regulation that this project asks to participate in an orgnaization to abide by HUD examines and approve loan carefully, and need carries out a quality compulsively control (the program of QC) .

According to the regulation, assure loan is in before approving a nucleus, nee the best selling ata pci d undertakes fulfilling his duty to investigate, the financial standing that knows borrower and trade the true condition of house property, this one ata pci best buy pace is carried out by FHA of and rath ata pci controller er than of direct loan orgnaization or HUD.

However, inquisitor PreetBharara expresses, heart silver violates project regulation badly, disregard whether can repay about borrower among them the requirement that guaranty borrows money.

FHA data shows, in the loan of one place residence that 2004 this company approves the division collect that go out to help city of much hot spring, face the situation that borrower records without credit, the company did not collect charge of electricity of insurance of building hire, car, water to wait motogp xbox game play pay information to come compose builds a record to be evaluated in order to offer, approve directly however gave loan. Result, after 6 months, borrower break a contact.

plant lights

Have more very person is house property of heart city brushstroke in loan, apply for the allegation antilogy that the current situation works about borrower on the data, same time works in X company already, hold a post in Y company again, discover without the person actually and oppugn, approve a loan likewise. Do not give 5 months, borrower break a contact.

The personage that is engaged in house property intermediary expresses, the error of these two case " very elementary " . And in other case, buy the home " assistance " sell domestic head to pay, the issue that place of make a false report holds asset value to wait, be afraid was discovered more impossibly.

　　 The QC that exist in name only

2004, mortgage IT company once invited exterior personnel to be controlled to building mass of a QC() program, new examine and verify already approved the loan case that give. Before long, the problem is discovered and inform this of the company with correspondence. However, this batch of correspondence did not seal off be put at the same time, read till the pick up af the best selling usb harddrive enclosure ter mount guard of manager of QC of first place of the company at the begin the most popular ata pci ning of 2005.

But the problem did not appear accordingly a favourable turn.

Afore-mentioned QC managers try to build a system in company int ata pci erior: Have first trial by exterior personnel through sifting chosen case to be handed in first, if have a problem, QC manager can extend the requirement the branch branch of this loan make a specification, manager of after this QC can make a problem evaluate and to management the layer reports.

But, this system never succeeds, QC manager borrows the inquiry of branch branch to often do not have a response to putting, although ever also was complained to administrative layer, it is a circumstance only as before.

Absurder is the company personnel arrangement in QC program. QC manager is narrated before this due and certain personnel helps the work, but the fact is polished rod commander however. 2006 head season ends to 2009 during managing, most popular selling moto gp xbox a loan audit staff of the government namely the pursues QC course exclusively person inside the company, this person also was made by move 2007 he is used.

The indictment is special mention a case. Outside audit staff and company QC manager are narrated to all discover the company rests closely before a branch the case of a series of break a contact, and all with a certain loan member reach a certain intermediary to matter, proposal management layer takes action. HUD discovers and know to meet this till 2006 the most popular moto gp xbox however the period of time after the company, the company just handled this issue.

Face these problems, company management layer expresses to had been corrected in the yearly check again and again, and tall canal signs again and again statement company comply with relevant regulations. But what do not claim like them as a result, the problem is managed at ending 2009 to this company continuously all the time.

The insurance pay that FHA expresses to had paid 386 million dollar for these loan and relevant cost, and still have 888 million dollar wait for pay, and in future, compensate pays amount to still may be met bigger.

Voice of a speech says heart volition bank: "We just were received sue, discussing at present. We think the accusation that is aimed at Mortgage IT and one's own profession is unreasonable, unfair. " at the same time, the spokesman still expresses their put up with this one lawsuit puts forward counterplea.