Whistleblowers reap millions in U.S. mortgage suits

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Whistleblowers reap millions in U.S. mortgage suits

Whistleblowers reap millions in U.S. mortgage suits

Reuters-

Troubled homeowners are not the only ones set to get a financial lift from the U.S. government’s $25 billion landmark mortgage settlement.

Whistleblowers who were instrumental in revealing epidemic mortgage abuses, some of whom risked their careers to do so, are getting multi-million-dollar payouts, court documents show.

Victor Bibby and Brian Donnelly, two Georgia mortgage brokers, are among the handful of whistleblowers whose stories are coming into focus.

Bibby and Donnelly said they started noticing in 2005 that lenders were charging veterans hidden fees on mortgage refinancing – a violation of the government’s Interest Rate Reduction Refinancing Loans program.

[REUTERS]

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