We reviewed alleged violations of U.S. Department of Housing and Urban Development (HUD) real estate-owned (REO) owner-occupancy program requirements by the subject (name withheld for privacy reasons). We concluded that the subject failed to comply with the HUD REO program requirement that an individual who purchases a REO home during its initial offering period must be the owner-occupant of the purchased home for one full year. In April 2011, HUD notified the subject of its intent to seek a false statement charge against the subject, under the Program Fraud Civil Remedies Act. In May 2011, HUD reached a settlement with the subject, who paid $5,000 to HUD to resolve the matter. The OIG has determined that the content of this memorandum is not appropriate for public disclosure and has therefore limited its distribution to selected officials.
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