Summit Construction and Environmental Services, LLC, Richmond, VA Generally Complied With Requirements for Lead-Based Paint Evaluations
We audited Summit Construction and Environmental Services, LLC, because we received an anonymous complaint alleging that Summit Construction (1) did not perform lead-based paint evaluations in a timely manner, (2) did not produce adequate lead-based paint inspection reports in accordance with applicable requirements, and (3) showed favoritism toward certain contractors performing lead-paint inspections. Our objective was to determine...
Septiembre 25, 2019
The Virginia Housing Development Authority, Richmond, VA, Did Not Always Accurately Report Its Servicing Actions in HUD’s Single Family Default Monitoring System
We audited the Virginia Housing Development Authority’s implementation of the U.S. Department of Housing and Urban Development’s (HUD) Loss Mitigation program for loans insured by the Federal Housing Administration (FHA). We conducted the audit because the Authority had the largest active portfolio and the largest number of delinquent loans for servicers located in Virginia as of October 31, 2014. Our objectives were to determine...
Septiembre 30, 2015
LoanCare Did Not Always File Claims for Foreclosed-Upon Properties Held on Behalf of Ginnie Mae and Convey Them to FHA in a Timely Manner
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited LoanCare, LLC, Virginia Beach, VA regarding its post-foreclosure activities as a single family master subservicer for the Government National Mortgage Association (Ginnie Mae). Our objective was to determine whether LoanCare conveyed foreclosed-upon properties held on behalf of Ginnie Mae, filed claims with FHA, and remitted the funds to...
Septiembre 30, 2015
As part of the Office of Inspector General’s (OIG) nationwide effort to review the foreclosure practices of the five largest Federal Housing Administration (FHA) mortgage servicers (Bank of America, Wells Fargo Bank, CitiMortgage, JP Morgan Chase, and Ally Financial, Incorporated) we reviewed Wells Fargo’s foreclosure and claims processes. In addition to this memorandum, OIG issued separate memorandums for each of the other four...
Marzo 12, 2012
Wells Fargo Home Mortgage, Fort Mill, SC, Did Not Always Approve FHA-HAMP Loans or Trial Plans in Accordance With Rules and Regulations
We performed a limited review of Wells Fargo Home Mortgage (Wells Fargo) as a result of our internal audit of the Federal Housing Administration’s (FHA) Home Affordable Modification Program (HAMP). During the audit, we visited Wells Fargo and reviewed a limited number of loans to determine whether the National Servicing Center implemented and operated FHA-HAMP in accordance with rules and regulations. Our objective for this limited...
Junio 07, 2011
Prospect Mortgage, LLC, Fairfax, VA, Generally Complied With HUD Requirements Regarding FHA-Insured Single-Family Loans
We audited the Fairfax, VA, branch office (branch office) of Prospect Mortgage, LLC (Prospect Mortgage), because it had one of the highest default rates for U.S. Department of Housing and Urban Development (HUD)-approved lenders for loans issued in the State of Maryland. Our objective was to determine whether Prospect Mortgage and its branch office complied with HUD regulations, procedures, and instructions in the origination and...
Junio 22, 2010