We audited loanDepot.com to evaluate its quality control (QC) program for originating and underwriting Single Family Federal Housing Administration (FHA)-insured loans.  We selected loanDepot for review based on its loan volume and delinquency rate and because its rate of self-reporting loans to HUD when it identified fraud, material misrepresentations, and other material findings that it could not mitigate was below average for…

We performed an audit of CMG Mortgage, Inc., to evaluate its quality control (QC) program for originating and underwriting Single Family Federal Housing Administration (FHA)-insured loans.  We selected CMG for review based on its loan volume and delinquency rate and because its rate of self-reporting loans to HUD when it identified fraud, material misrepresentations, and other material findings that it could not mitigate was below…

We audited HUD’s management of its FHA appraiser roster to determine whether the roster was accurate and reliable.  We selected this review because a prior audit identified weaknesses related to roster oversight and because this topic aligns with HUD’s strategic goals related to promoting home ownership and strengthening its internal capacity, as well as increased interest in the appraisal process.  HUD’s FHA appraiser…

We audited the Puerto Rico Housing Finance Authority’s (PRHFA) Homebuyer Assistance Program (HBA), which provides eligible applicants with closing costs and downpayment assistance for the purchase of a primary residence.  The U.S. Department of Housing and Urban Development (HUD) provided its grantee, the Puerto Rico Department of Housing (PRDOH), $495 million in Community Development Block Grant Disaster Recovery funds for HBA…

We audited the U.S. Department of Housing and Urban Development (HUD), Office of Single Family Housing’s Federal Housing Administration (FHA) Resource Center’s handling of housing discrimination inquiries.  We initiated the audit to assist HUD with ensuring that the FHA Resource Center (1) provided accurate and complete information on potential housing discrimination to its customers and (2) ensured that instances of potential…

We audited the U.S. Department of Housing and Urban Development’s (HUD) temporary policy for endorsement of loans with COVID-19 forbearance activity because an analysis of data in HUD’s systems showed that there may have been loans that did not comply with the policy’s requirements.  The policy was one aspect of HUD’s broader emergency response to COVID-19, which also included an eviction moratorium and loan forbearance for…