Bank Fires Employee In Retaliation For Blowing Whistle On Mortgage Fraud, Says Lawsuit

In Broward County, Florida, The Miami Herald reports:

• A former SunTrust Bank mortgage loan coordinator contends in a lawsuit that he was fired after alerting superiors to mortgage fraud occuring at the bank. Some SunTrust loan officers fudged borrowers' incomes and approved multiple loans on investment properties that were actually reported as second homes, ensuring borrowers not only qualified for loans but got them at lower interest rates, said Alan Archambault, a five-year bank employee who was fired late last year. Archambault, 43, of Sunrise, sued SunTrust claiming his firing violated Florida's Whistle Blower Act, which bars companies from taking retaliatory action against employees for objecting to illegal conduct.

For more, see Ex-SunTrust worker challenges firing (A lawsuit accuses SunTrust Bank of firing a mortgage loan coordinator in retaliation for exposing mortgage fraud at the bank).

To view the lawsuit, filed in Broward Circuit Court, see Archambault v. Suntrust Banks Inc., et al.

Go here for other posts on whistleblower suits involving alleged fraudulent mortgage lending practices.