DENVER – Bob Troyer, the united states Attorneys to your Region regarding Colorado, announced today a $41 mil payment which have Aurora Loan Features, LLC, a subsidiary of Lehman Brothers Holdings, Inc. (“LBHI”), about the Aurora Mortgage Services’ conduct within the originating and you will promoting home-based mortgage loans off 2004 thanks to 2008. In solution revealed now, Aurora Financing Attributes pays $41 billion because the a municipal penalty under the Creditors Reform, Healing and you may Administration Operate.
People had been along with informed that fund experienced Aurora Mortgage Services’ “pre-money con detection” remark, a review one to understood prospective “red flags” during the mortgage files
It caused correspondent lenders, and therefore made mortgage loans so you can homebuyers. Aurora Financing Features set-up toward income of those fund to help you the mother or father company, Lehman Brothers Lender.