Final Civil Action – MetLife Home Loans, LLC, and a Borrower’s Son Settled Allegations of Failing to Comply with HUD’s Federal Housing Administration HECM Loan Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), conducted a review of a Federal Housing Administration (FHA) home equity conversion mortgage (HECM) underwritten by MetLife Home Loans, LLC. MetLife is an FHA-approved mortgage lender with its principal place of business located in Irving, TX. On June 9, 2017, HUD notified MetLife and the borrower’s son of their potential liability under the Program Fraud Civil Remedies Act of 1986, 38 U.S.C.
CitiMortgage, Inc., O’Fallon, MO, Improperly Filed for FHA-HAMP Partial Claims Before Completing the Loan Modifications and Reinstating the Loans
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited CitiMortgage’s processing of partial claims. Our audit objective was to determine whether CitiMortgage filed for partial claims only after completing the loan modifications and reinstating the loans. CitiMortgage improperly filed for 66 partial claims before completing the loan modifications and reinstating the loans.
HUD’s Use of Nonpayment Orders Adequately Prevented Claims on FHA Loans From Being Paid
We audited the U.S.
Review of Information Systems Controls Over FHA
We audited general and application controls over selected Federal Housing Administration (FHA) information systems and the credit reform estimation and reestimation process as part of the internal control assessments required for the fiscal year 2017 financial statement audit under the Chief Financial Officer’s Act of 1990. Our objective was to review the controls for compliance with U.S.
BLM Companies LLC, Hurricane, UT, Did Not Provide Property Preservation and Protection Services in Accordance With Its Contract With HUD and Its Own Requirements
We audited BLM Companies LLC, a contracted field service 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 performing property preservation and protection services for U.S.