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
Memorandum Report on the Wyoming Community Development Authority’s Role in the Village Creek Townhomes’ 51 FHA Mortgage Defaults
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited the Wyoming Housing Opportunities Association (Association) based on information obtained during a separate audit of the Wyoming Community Development Authority (State Finance Agency), which indicated that 51 Federal Housing Administration (FHA) mortgages with the same borrower had defaulted. The purpose of our audit was to determine...
Agosto 12, 2014
We reviewed the administration of the U.S. Department of Housing and Urban Development’s (HUD) Loss Mitigation Program at the Wyoming Community Development Authority, located in Casper, WY. Our objective was to determine whether the Authority properly administered HUD’s Loss Mitigation Program for Federal Housing Administration (FHA)-insured mortgages. We selected the Authority based on its high rate of foreclosure claims. Its...
Enero 21, 2014
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
First National Bank, Gillette, Wyoming, Did Not Follow HUD Requirements in Originating and Underwriting Insured Loans and Did Not Have a Quality Control Plan
The U.S. Department of Housing and Urban Development's Office of Inspector General audited First National Bank of Gillette, Wyoming, a Federal Housing Administration (FHA)-approved direct endorsement lender, to determine whether it properly processed insured loans and to determine whether its quality control plan met the U.S. Department of Housing and Urban Development's (HUD) requirements. First National Bank did not follow...
Septiembre 24, 2008