Judicial Watch, the organization that investigates and fights government corruption, announced today that it filed a Freedom of Information Act (FOIA) lawsuit on January 3, 2012, against the Obama Department of Justice and U.S. Department of Housing and Urban Development to obtain documents pertaining to accusations of fraud against the nation’s five largest mortgage companies and the creation of “federal accounts” to settle probes into faulty mortgage practices.
The Obama administration has reportedly been engaged in settlement negotiations behind closed doors with mortgage companies that would result in at least $20 billion in payments from the nation’s major banks.
Pursuant to a Judicial Watch FOIA request filed with the DOJ and HUD on May 17, 2011, Judicial Watch seeks the following records:
-- A set of government audits used to support allegations that the
nation's five largest mortgage companies of defrauding taxpayers in
the handling of foreclosures on homes purchased with government-backed
loans.
-- A term sheet which outlined the Obama administration's settlement
offer to the mortgage companies accused of fraud. The terms described
on this document allegedly included the creation of a federal account
funded by the nation's largest mortgage firms to help distressed
borrowers avoid foreclosure and settle state and federal probes into
alleged faulty mortgages practices.
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Filed under: 3. Access law Tagged: | Freedom of Information Act, JudicialWatch, Obama administration, United States Department of Justice
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