We reviewed alleged violations of U.S. Department of Housing and Urban Development (HUD) Federal Housing Administration (FHA) loan origination requirements by the subject. We concluded that the subject made false statements on a mortgage loan application for one property, and falsely acted as the seller of a second property on behalf of another person. The Department of Justice filed a complaint under the Financial Institutions Reform, Recovery, and Enforcement Act; and in July 2011 reached a settlement with the subject. The subject admitted to participating in the frauds and agreed to complete 320 hours of specified community service to resolve the matter. However, if the subject fails to complete this commitment, the Department of Justice will file a large monetary judgment against the subject. The subject also agreed to no participation in the real estate industry for the next 10 years. 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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