Breakthrough Living Program Did Not Administer Its Program in Accordance With HUD Rules and Regulations
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited Breakthrough Living Program based on an audit referral memorandum received from the Director of HUD’s Southwest Region, Office of Multifamily Housing Programs. The referral cited several concerns, including the property’s unilateral withdrawal of funds from the reserve for replacement account. Our audit objective was to determine whether…
March 04, 2015
Report
#2015-KC-1001
National Bank of Kansas City, Overland Park, KS, Did Not Follow HUD’s Underwriting and Quality Control Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited National Bank of Kansas City (National Bank). Our audit objectives were to determine whether National Bank followed Federal Housing Administration (FHA) requirements for (1) borrower eligibility and creditworthiness and property eligibility when underwriting loans and (2) implementing a quality control program.
National Bank did not follow HUD…
June 04, 2010
Report
#2010-KC-1005
Milestone Management Systems Inc.’s Management Controls for Managing Multifamily Properties Were Not Adequate
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited Milestone Management Services, Inc. (Milestone), of Topeka, Kansas, in response to a request from the HUD's Office of Multifamily Housing in Kansas City, Kansas. HUD was concerned that Milestone had not complied with cash management requirements. Our audit objective was to determine whether Milestone complied with HUD’s cash management…
August 05, 2009
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#2009-KC-1009
CTX Mortgage Did Not Follow HUD’s Requirements When Underwriting 12 FHA Loans and Developing Its Quality Control Plan
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, reviewed 23 Federal Housing Administration (FHA) loans originated by CTX Mortgage's Overland Park, Kansas, branch office. Our audit objectives were to determine whether CTX Mortgage followed U.S. Department of Housing and Urban Development (HUD) requirements for (1) borrower eligibility and creditworthiness and property eligibility when underwriting…
December 16, 2008
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#2009-KC-1003
Clarion Mortgage Capital Did Not Fully Comply with HUD’s or Its Own Quality Control Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited the Leawood, Kansas, branch office of Clarion Mortgage Capital, a Federal Housing Administration (FHA)-approved loan correspondent. Our audit objective was to determine whether Clarion Mortgage Capital followed HUD requirements for implementing a quality control program. We concluded that Clarion Mortgage Capital did not fully comply with HUD's…
December 16, 2008
Report
#2009-KC-1002
Peoples Bank Did Not Follow HUD’s Requirements When Underwriting Nine FHA Loans and Implementing Its Quality Control Program
The U.S. Department of Housing and Urban Development (HUD) Office of Inspector General reviewed 23 Federal Housing Administration (FHA) loans underwritten by Peoples Bank of Overland Park , Kansas . Our audit objectives were to determine whether Peoples Bank followed HUD requirements for (1) borrower eligibility and creditworthiness and property eligibility when underwriting loans and (2) implementing a quality control program. We concluded that…
August 20, 2008
Report
#2008-KC-1004