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Title Announced Priority Area Program Area State
Servicer Post-Moratorium Foreclosures 05/2023 Protecting the Mortgage Insurance Funds Housing California

Summary

HUD OIG is auditing a California-based mortgage lender that services FHA single-family loans. Servicers initiate foreclosure when defaulted borrowers cannot or will not resume and complete their mortgage payments. Our objective is to determine whether the servicer (1) established that borrowers were ineligible for loss mitigation assistance before commencing foreclosure, and (2) reviewed requests received during foreclosure before continuing.