December 8, 2017 / 7:14 PM / 7 months ago

Iberiabank to pay U.S. $11.69 million over mortgage guarantee claims

WASHINGTON (Reuters) - Iberiabank Corp (IBKC.O) and two subsidiaries agreed to pay $11.69 million to resolve allegations they submitted false claims for federal loan guarantees on mortgages, the U.S. Justice Department said on Friday.

Between Jan. 1, 2005, and Dec. 31, 2014, the Lafayette, Louisiana-based bank and its Iberiabank and Iberiabank Mortgage Co units admitted to certifying mortgage loans that did not meet Federal Housing Administration standards and paid incentives to underwriters, which is prohibited, the department said in a statement.

Reporting by Tim Ahmann; Writing by Eric Walsh; Editing by Cynthia Osterman

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