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Land Home Financial Services, Inc. Settled Alleged Violations of Failing To Comply With Federal Housing Administration Loan Requirements

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the Office of Program Enforcement in the investigation of Land Home Financial Services, Inc. to determine whether it violated HUD requirements when underwriting loans insured by the Federal Housing Administration (FHA).  Land Home is an FHA mortgage lender, located in Concord, CA.    Based in part on OIG’s review, HUD contends that Land Home may be liable under the Program Fraud Civil Remedies Act of 1986, 31 U.S.C.

Additional Review of Information System Controls Over FHA Information Systems, Washington, DC

We reviewed the general and application controls over the Federal Housing Administration’s (FHA) Single Family Insurance System (SFIS) and Single Family Insurance Claims Subsystem (Claims) as part of the internal control assessments required for the fiscal year 2015 financial statement audit under the Chief Financial Officer’s Act of 1990. Our objective was to assess the general and application controls over SFIS and Claims for compliance with U.S.

James B. Nutter & Company, Kansas City, MO, Did Not Always Follow HUD’s Rules and Regulations for Loss Mitigation

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited James B. Nutter & Company, a Federal Housing Administration (FHA) lender located in Kansas City, MO.  We selected James B. Nutter based on data analysis showing that the servicer might be completing foreclosures faster than the industry standard, which would suggest that it might not be fully using HUD’s loss mitigation tools.  Our audit objective was to determine whether James B.