Del Norte Neighborhood Development Corporation
We audited Del Norte Neighborhood Development Corporation based on information we received indicating that Del Norte may have violated the U.S. Department of Housing and Urban Development’s (HUD) HOME Investment Partnerships program rules during the demolition of one of its low- to moderate-income rental developments. Our objective was to determine whether Del Norte properly transferred, stopped, modified, or extended the availability of…
November 26, 2019
Report
#2020-DE-1001
The Fort Collins Housing Authority, Fort Collins, CO, Administered Its RAD Project in Accordance With HUD Requirements for the Items Reviewed
The U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector General audited the Fort Collins Housing Authority’s Village on Redwood Rental Assistance Demonstration Program (RAD) project. We selected the Authority because it had completed the entire RAD conversion process with new construction, and its Village on Redwood RAD project used the largest amount of Federal funds of the State of Colorado projects. Our…
April 18, 2019
Report
#2019-DE-1002
Meeker Housing Authority, Meeker, CO, Improperly Used Project Operating Funds for Its 221(d)(3) Multifamily Housing Insurance Program
The U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector General audited the Meeker Family and Elderly Housing project based on a referral from HUD’s Office of Multifamily Housing Programs in Denver, CO. The project is owned and managed by the Meeker Housing Authority. HUD alleged that the owner had failed to file audited financial statements or make mortgage payments to HUD for the past 10 years. Our…
September 05, 2018
Report
#2018-DE-1001
RMS & Associates, Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
We audited RMS & Associates’ Federal Housing Administration (FHA) loan origination because it was one of the top lenders that originated FHA-insured loans with downpayment assistance from the City of Las Vegas. A previous U.S. Department of Housing and Urban Development, Office of Inspector General (HUD OIG), audit (Evergreen Home Loans, 2016-LA-1011) found that Evergreen originated FHA-insured loans in connection with the City of Las…
September 27, 2017
Memorandum
#2017-LA-1803
The City of Chattanooga, TN, Did Not Always Administer Its ESG Program in Accordance With HUD’s Requirements
We audited the City of Chattanooga’s Emergency Solutions Grants (ESG) program. We selected the City for review in accordance with our annual audit plan. Our audit objective was to determine whether the City administered its ESG program in accordance with HUD’s requirements.
The City did not always administer its ESG program in accordance with HUD’s requirements. Specifically, it did not ensure that program expenditures were…
September 27, 2017
Report
#2017-AT-1013
SecurityNational Mortgage Company, Las Vegas, NV, Improperly Originated FHA Loans for Properties With Restrictive Covenants
We audited SecurityNational Mortgage Company’s Federal Housing Administration (FHA) loan origination because it was among the top lenders that originated FHA-insured loans with downpayment assistance from the City of Las Vegas. A previous U.S. Department of Housing and Urban Development, Office of Inspector General (HUD OIG), audit (Evergreen Home Loans, 2016-LA-1011) found that Evergreen originated FHA-insured loans in connection with…
September 21, 2017
Memorandum
#2017-LA-1802
Baker Tower, Denver, CO, Incorrectly Disbursed Funds and Did Not Correctly Administer the Project’s Security Deposit Account
We audited Baker Tower Apartments, LLC (corporation), located in Denver, CO, based on data showing that the corporation had taken more than $3.4 million in owner distributions since 2013 and scored poorly on its most current Real Estate Assessment Center physical property inspection. The objective of our audit was to determine whether the corporation complied with the regulatory agreement and U.S. Department of Housing and Urban…
September 20, 2017
Report
#2017-DE-1003
Venta Financial Group, Inc., Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
We audited Venta Financial Group’s Federal Housing Administration (FHA) loan origination because it was one of the top lenders that originated FHA-insured loans with downpayment assistance from the City of Las Vegas. A previous U.S. Department of Housing and Urban Development, Office of Inspector General (HUD OIG) audit (Evergreen Home Loans, 2016-LA-1011) found that Evergreen originated FHA-insured loans in connection with the City of…
September 19, 2017
Memorandum
#2017-LA-1801
The City of Las Vegas, NV, Did Not Administer Its Neighborhood Stabilization Program 3 Homebuyer Assistance Program in Accordance with HUD Requirements
We audited the City of Las Vegas’, Homebuyer Assistance Program under the U.S. Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program 3 (NSP3). We initiated this review because of a prior HUD Office of Inspector General audit of Evergreen Home Loans issued September 12, 2016 (audit report 2016-LA-1011). The Evergreen Home Loans audit report identified 14 loans that received home-buyer assistance as…
September 12, 2017
Report
#2017-LA-1008
The Denver Housing Authority Generally Complied with HUD’s and its Own Procurement Regulations
The U.S. Department of Housing and Urban Development, Office of Inspector General audited the Denver Housing Authority of Denver, CO for calendar years 2013-2015. The audit was initiated because of deficiencies found in other procurement audits in our region. The Authority is the largest recipient of U.S. Department of Housing and Urban Development (HUD) funds in the region, and we wanted to ensure that it did not have the…
August 17, 2017
Report
#2017-DE-1002