Mortgage firm fraud - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Mortgage firm fraud

NewsChannel 10

A set of confidential audits could lead to fraud prosecutions for five of America's biggest mortgage lenders.

Bank of America, Wells Fargo and Citigroup are among the banks accused of defrauding taxpayers by making false claims about foreclosures on homes purchased with government-backed loans.

Reports show the audits are especially hard on Bank of America, which allegedly lied about correcting its foreclosure practices.

The justice department is now deciding whether to press charges.

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