Neighborhood Loans, Inc. Did Not Have a Sufficient Quality Control Program for FHA-Insured Loans
We audited Neighborhood Loans, Inc., to evaluate its quality control (QC) program for originating and underwriting Single Family FHA-insured loans. Our audit covered the period October 2020 through September 2022. We selected Neighborhood Loans for review based on its increasing loan volume and delinquency rate and because its rate of self-reporting loans to HUD when it identified fraud, material misrepresentations, and other material…
July 03, 2025
Report
#2025-NY-1004