Sierra Pacific Mortgage fined $3.67 million for FHA lending violations

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Sierra Pacific Mortgage will pay a fine of $3.67 million to settle allegations that the company knowingly violated FHA lending standards more than a decade ago. According to the U.S. Attorney’s Office, Sierra Pacific was accused of violating the False Claims Act by falsely certifying that it complied with FHA mortgage insurance requirements in connection with certain loans made between 2007 and 2009.