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Report Fraud, Waste and Abuse
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    Date Issued
    Cunningham and Company 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), investigated Cunningham and Company to determine whether it violated HUD requirements when underwriting loans insured by the Federal Housing Administration (FHA).  Cunningham is an FHA mortgage lender, formerly located in Greensboro, NC. Based on OIG’s review, HUD contends that Cunningham may be liable under the Program Fraud Civil Remedies Act…
    September 08, 2016
    Memorandum
    #2016-CF-1803
    Central City Housing Development Corporation, New Orleans, LA, Did Not Always Operate Satchmo Plaza in Accordance With Its Regulatory Agreement and HUD Requirements
    We audited Central City Housing Development Corporation’s U.S. Department of Housing and Urban Development (HUD) Sections 202 and 8-funded project, Satchmo Plaza, as part of our annual audit plan to review multifamily projects.  Our audit objective was to determine whether the Corporation met the requirements of its regulatory agreement and followed HUD requirements when operating the project. We found that the Corporation did not always…
    July 27, 2016
    Report
    #2016-FW-1004
    Belle Maison Nursing Home, Hammond, LA, Generally Complied With the Owner and Operator Regulatory Agreements and HUD Requirements for Its Section 232 Loan
    As part of the U.S. Department of Housing and Urban Development (HUD), Office of Inspector General’s annual audit plan, we audited the Belle Maison Nursing Home.  We selected the facility for review based on a risk analysis.  Our objective was to determine whether the facility complied with the executed owner and operator regulatory agreements and HUD requirements.  The facility generally complied with the terms of the owner and…
    September 23, 2015
    Report
    #2015-FW-1006
    Eustis Mortgage Did Not Always Operate Its FHA Program In Accordance With HUD Requirements
    We audited Eustis Mortgage Corporation, a Federal Housing Administration (FHA) direct endorsement lender located in New Orleans, LA. We selected Eustis Mortgage as a result of our regional risk analysis and the U.S. Department of Housing and Urban Development’s (HUD), Office of Inspector General’s (OIG) annual audit plan goal to review single-family programs and lenders. Our objective was to determine whether Eustis Mortgage (1) complied with…
    March 21, 2013
    Report
    #2013-FW-1002
    The Owner of the West Village Expansion Project, Durham, NC, Failed To Comply With Its Regulatory Agreement With HUD
    We audited the West Village Expansion Project in Durham, NC, a U.S. Department of Housing and Urban Development (HUD) Section 220-insured property, due to a citizen’s hotline complaint. The anonymous complainant alleged that the managing member of the project’s ownership entity spent an excessive amount of project funds on legal fees, transferred more than $500,000 to another entity owned by it, and failed to keep the mortgage current. Our…
    July 27, 2012
    Report
    #2012-AT-1014
    Final Civil Action - Bank of America Settled Alleged Violations of the False Claims Act by Countrywide Home Loans, Inc.
    The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), conducted a review of loans underwritten by Countrywide Home Loans Inc., and its divisions Countrywide Bank FSB and Countrywide Mortgage Ventures, LLC. The objective of the review was to determine whether Countrywide underwrote Federal Housing Administration (FHA) loans in accordance with HUD-FHA regulations. Countrywide is a subsidiary of Bank of…
    June 12, 2012
    Memorandum
    #2012-CF-1809
    Bank of America Corporation, Foreclosure and Claims Process Review Charlotte, NC
    As part of the Office of Inspector General’s (OIG) nationwide effort to review the foreclosure practices of the five largest Federal Housing Administration (FHA) mortgage servicers (Bank of America, Wells Fargo Bank, CitiMortgage, JP Morgan Chase, and Ally Financial, Incorporated) we reviewed Bank of America’s foreclosure and claims processes. In addition to this memorandum, OIG issued separate memorandums for each of the other four reviews.…
    March 12, 2012
    Memorandum
    #2012-FW-1802