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Línea Directa

REPORTAR FRAUDE, DESPERDICIO O ABUSO
  • Recommendation Number: 2017-LA-1803-001-A
  • Status: Closed
  • Date Issued: Septiembre 28, 2017
Closed Date:
Marzo 06, 2019

Work with HUD to nullify the restrictions on conveyance that violate HUD policy or indemnify HUD. This action will protect HUD against future losses of $2,434,204 for the 49 loans.

Publication Report

2017-LA-1803 | Septiembre 28, 2017

RMS & Associates, Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants

We audited RMS & Associates’ Federal Housing Administration (FHA) loan origination because it was one of the top lenders that originated FHA-insured loans with downpayment assistance from the City of Las Vegas.  A previous U.S. Department of... más

Related Recommendations

Housing

  •  
    Status
      Open
      Closed
    2017-LA-1803-001-B
    Closed on Enero 05, 2018
    $26,242.00
    Questioned Costs

    Recommendations with questioned costs identify costs: (A] resulting from an alleged violation of a law, regulation, contract, grant, or other document or agreement governing the use of Federal funds; (B] that are not supported by adequate documentation (also known as an unsupported cost]; or (C] that appear unnecessary or unreasonable.

    Summary

    Repay HUD $26,242 for partial claims paid on two FHA loans that contained prohibited restrictive covenants.

  •  
    Status
      Open
      Closed
    2017-LA-1803-001-C
    Closed on Febrero 27, 2019
    Summary

    Develop and implement policies and procedures to identify prohibited restrictions on conveyance to ensure that it does not originate FHA loans with prohibited restrictive covenants.

  •  
    Status
      Open
      Closed
    2017-LA-1803-001-D
    Closed on Febrero 27, 2019
    Summary

    Provide training to its employees regarding HUD’s requirements related to prohibited restrictions on conveyance.

General Counsel

  •  
    Status
      Open
      Closed
    2017-LA-1803-001-E
    Closed on Junio 01, 2018
    Summary

    Determine legal sufficiency and if legally sufficient, pursue civil and administrative remedies, civil money penalties, or both against RMS, its principals, or both for incorrectly certifying to the eligibility for FHA mortgage insurance or that due diligence was exercised during the origination of FHA loans.