HUD Did Not Have Adequate Controls To Ensure That Servicers Properly Engaged in Loss Mitigation
Require that the servicers with significant and other deficiencies revise and update their policies and procedures, as necessary, to ensure that they comply with HUD requirements and guidance on loss mitigation evaluation.
San Sebastian Fine Arts Center, Office of the Commissioner for Municipal Affairs, San Juan, PR, State Block Grant Program
Reevaluate the feasibility of the project to determine the eligibility of the $1,014,211 in State Block Grant funds disbursed. If HUD determines that the project has been canceled or is not feasible, the Government of Puerto Rico or its designee must reimburse all project costs to its State Block Grant program from non-Federal funds.
San Sebastian Fine Arts Center, Office of the Commissioner for Municipal Affairs, San Juan, PR, State Block Grant Program
Instruct the Office for the Socioeconomic and Community Development to submit a plan for how it will proceed with the fine arts center project. The plan should include a schedule that HUD can track to ensure the project’s completion without proposing the use of additional HUD funds.
The State of New York Did Not Show That Disaster Recovery Funds Under Its Non-Federal Share Match Program Were Used for Eligible and Supported Costs
We recommend that HUD’s Deputy Assistant Secretary for Grant Programs direct the State to provide documentation to show that the $18,782,054 used for four activities was for eligible and supported costs and did not duplicate other benefits or repay from non-Federal funds any amount that it cannot support.
The State of New York Did Not Show That Disaster Recovery Funds Under Its Non-Federal Share Match Program Were Used for Eligible and Supported Costs
We recommend that HUD’s Deputy Assistant Secretary for Grant Programs direct the State to Implement procedures to ensure that remaining program costs reimbursed with disaster recovery funds are adequately reviewed for eligibility and support, thereby putting up to $8,932,630 to better use.
The State of New York Did Not Show That Disaster Recovery Funds Under Its Non-Federal Share Match Program Were Used for Eligible and Supported Costs
We recommend that HUD’s Deputy Assistant Secretary for Grant Programs direct the State to provide training to its staff on applicable HUD and Federal requirements for eligibility, documentation of costs, and duplication of benefits reviews.
The Office of Residential Care Facilities' Use of Real Estate Assessment Center Scores
Identify and implement a method to ensure that eligible RCFs receive database adjustments when appropriate under local code
The Office of Residential Care Facilities' Use of Real Estate Assessment Center Scores
Identify and implement a method to ensure that HUD does not instruct facilities to negate safety features
The Office of Residential Care Facilities' Use of Real Estate Assessment Center Scores
Identify and implement a method that ensures the expeditious followup inspection of RCFs
First American Mortgage Trust Settled Allegations of Failing To Comply With HUD's Federal Housing Administration Loan Requirements
Acknowledge that $250,000 of the $1,025,000 in the attached settlement represents an amount due HUD, less the U.S. Department of Justice’s (DOJ) civil debt collection fees.
Venta Financial Group, Inc., Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
Work with HUD to nullify the restrictions on conveyance that violate HUD policy or indemnify HUD. This action will protect HUD against future losses of $418,277 for the eight loans.
Venta Financial Group, Inc., Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
Repay HUD $5,482 for partial claims paid on two FHA loans that contained prohibited restrictive covenants.
Venta Financial Group, Inc., Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
Develop and implement policies and procedures to identify prohibited restrictions on conveyance to ensure that it does not originate FHA loans with prohibited restrictive covenants.
Venta Financial Group, Inc., Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
Provide training to its employees regarding HUD’s requirements related to prohibited restrictions on conveyance.
Venta Financial Group, Inc., Las Vegas, NV, Improperly Originated FHA-Insured Loans With Restrictive Covenants
Determine legal sufficiency and if legally sufficient, pursue civil and administrative remedies, civil money penalties, or both against Venta, its principals, or both for incorrectly certifying to the eligibility for FHA mortgage insurance or that due diligence was exercised during the origination of FHA loans.
MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD's Underwriting Requirements but Generally Complied With Quality Control Requirements
We recommend that the Deputy Assistant Secretary for Single Family Housing require MB Financial to indemnify HUD against potential losses of $178,811 for the four loans that did not comply with underwriting requirements (appendix C). HUD provided us copies of the four executed indemnification agreements in August and September 2017. Therefore, upon issuance of this report, we will enter a management decision into HUD’s Audit Resolution and…
MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD's Underwriting Requirements but Generally Complied With Quality Control Requirements
We recommend that the Deputy Assistant Secretary for Single Family Housing require MB Financial to provide training to its underwriters on HUD’s underwriting requirements for approving and rejecting loans.
MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD's Underwriting Requirements but Generally Complied With Quality Control Requirements
We recommend that the Deputy Assistant Secretary for Single Family Housing require MB Financial to update its policies and procedures to ensure that its staff understands underwriting requirements and the requirement that loans be manually underwritten when a refer decision is received from automated underwriting systems or when a loan is downgraded to a manual underwrite.
MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD's Underwriting Requirements but Generally Complied With Quality Control Requirements
We recommend that the Deputy Assistant Secretary for Single Family Housing require MB Financial to update its quality control plan to include the specific procedures to be used when reviewing rejected loan applications.
The Housing Authority of the City of Hartford, CT, Did Not Always Comply With Procurement Requirements
Support that $2,533,377 in costs were reasonable and allowable program expenses in accordance with requirements or repay from non-Federal funds the appropriate programs any amounts they cannot support.