Posted by: Melville Johnson, P.C.
April 17, 2008
Topic: Whistleblower
The Attorneys at Melville Johnson, P.C. can provide this type of legal representation for you:
A former employee of Countrywide KB Home Loans has filed a wrongful termination lawsuit, in which he claims that he was fired, after he reported fraudulent and suspect lending practices to his supervisors. The Plaintiff alleges that he was given an excellent performance review three months prior to being terminated. The Plaintiff claims that his fellow employees would encourage appraisers to inflate home appraisals by as much as six percent. The Plaintiff states that he was fired, after he failed to meet a quota for new loan approvals, because he refused to clear unqualified applicants.
Countrywide KB Home Loans is a joint venture between Countrywide Financial Corp. and KB Homes. The lending practices of Countrywide Financial and other mortgage companies have come under scrutiny, due to the rise in home loan defaults and foreclosures.
This article is largely based on a Associated Press article written by Alex Veiga on January 31, 2008.
