Northline Point Apartments, Houston, TX, Multifamily Section 8 Program, Subsidized Unsupported Tenants and Uninspected Units
We audited the multifamily Section 8 Project-Based Rental Assistance (PBRA) program at the Northline Point Apartments. We selected Northline Point in accordance with our goal to review the U.S. Department of Housing and Urban Development’s (HUD) multifamily housing programs and because of a request from HUD to audit the property based on extensive findings from its project-based contract administrator’s management and occupancy review...
Junio 10, 2019
The Weslaco Housing Authority, Weslaco, TX, Did Not Follow Federal, State, and Authority Requirements for Legal Services
We audited the Weslaco Housing Authority, Weslaco, TX, based on a referral to our office concerning issues with the Authority’s process for awarding its 2014 legal services contract. Our audit objective was to determine whether the Authority procured its U.S. Department of Housing and Urban Development (HUD) Housing Choice Voucher Program- and operating subsidy-funded legal services contract in accordance with Federal, State, and...
Mayo 15, 2019
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Bank of America because it has released more than 47,000 Federal Housing Administration (FHA)-insured loans into the Distressed Asset Stabilization Program (DASP) note sales program. Since its inception, DASP has facilitated the sale of more than 108,000 FHA loans, which means that Bank of America accounts for nearly half of the entire...
Abril 09, 2019
Final Civil Action: Universal American Mortgage Company, LLC, Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice (DOJ) and the U.S. Attorney’s Office for the Eastern and Western Districts of Washington in the civil investigation of Universal American Mortgage Company, LLC. Our investigation was ongoing when a qui tam action was filed in the U.S. District Court for the Western District of Washington. Universal...
Diciembre 21, 2018
Majestic Management, LLC, St. Louis, MO, a Management Agent for the East St. Louis Housing Authority, Mismanaged Its Public Housing Program
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Majestic Management, LLC’s management agent activities for the public housing program at the East St. Louis Housing Authority. Our objective was to determine whether Majestic Management made only eligible and supported payments for payroll, complied with procurement requirements, and properly performed initial tenant certifications and...
Septiembre 26, 2017
MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD’s Underwriting Requirements but Generally Complied With Quality Control Requirements
We audited MB Financial Bank, a Federal Housing Administration (FHA)-approved direct endorsement lender, as part of our efforts to protect the integrity of the U.S. Department of Housing and Urban Development’s (HUD) single-family housing mortgage insurance programs. We selected MB Financial for review based on an analysis of underwriting and default data maintained by HUD. Our objective was to determine whether MB Financial followed...
Septiembre 20, 2017
JPMorgan Chase Complied with the Market Rate Requirement for FHA Home Affordable Modification Program Stand-Alone Partial Claims
We audited JPMorgan Chase’s (Chase) Federal Housing Administration Home Affordable Modification Program (FHA-HAMP) stand-alone partial claims. We selected Chase for review based on our analysis of risk factors of loan servicers that filed FHA-HAMP stand-alone partial claims and in accordance with our annual audit plan. Our audit objective was to determine whether Chase complied with the FHA-HAMP stand-alone partial claim market rate...
Septiembre 15, 2017
Final Civil Action: Financial Freedom, a Division of CIT Bank, N.A., Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Servicing Requirements for HECM Claims
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice (DOJ), Washington, DC, and the U.S. Attorney’s Office for the Middle District of Florida in a civil investigation of Financial Freedom Acquisition, a division of CIT Bank, N.A. Financial Freedom was originally owned by IndyMac Bank until its failure in 2008, when the Federal Deposit Insurance...
Agosto 21, 2017
Alpine First Preston Joint Venture II, LLC, Alpine, UT, Did Not Always Comply With Its Contract With HUD and Its Own Requirements for the Marketing and Sale of HUD-Owned Properties in the State of IL
We audited Alpine First Preston Joint Venture II, LLC, a contracted asset manager in HUD’s real estate-owned Management and Marketing III program, as part of the activities included in our 2017 annual audit plan and because it was the sole contractor to market and sell U.S. Department of Housing and Urban Development (HUD) owned properties located in Illinois. Our audit objective was to determine whether Alpine complied with its...
Agosto 11, 2017
The Housing Authority of the City of Jasper, TX, Did Not Operate Its Public Housing Programs in Compliance With HUD’s Requirements
In coordination with our Office of Investigations, we audited the Housing Authority of the City of Jasper, TX, because we received a complaint. The complainant’s allegations included the executive director’s misuse of Authority vehicles and other issues. Our audit objective was to determine whether the Authority operated its Public Housing programs in compliance with the U.S. Department of Housing and Urban Development’s (HUD)...
Abril 26, 2017