California Real Estate Fraud Report

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16
Jun

Former Employees Sue American Financial Corp., Claim Retaliatory Firing for Exposing Fraud

Four former employees of American Financial Corp. have filed a whistleblower lawsuit, accusing the company of firing them after they attempted to expose AFC’s alleged mortgage fraud.

The plaintiffs are Chris Springer, Steffen Mehnert and Sandra Reynolds, who were mortgage consultants, and Stacia Springer, a pre-qualification specialist. They say they were fired after they reported their concerns to management in March 2017.

The lawsuit alleges that the company intentionally falsified loan information, faked signatures, withheld negative financial information about an applicant and faked compliance with key deadlines.

American Financing issued a statement to The Denver Post, saying it will defend itself “vigorously against this meritless lawsuit and the false allegations …”

JP Morgan Chase, Wells Fargo, US Bank, Flagstar Bank and PennyMac, were the banks allegedly defraud according to the lawsuit, as well as the Colorado Housing and Finance Authority.

Read the original article in The Denver Post.

 

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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