We audited First Source Bank, a Federal Housing Administration (FHA) supervised lender located in South Bend, IN.  We selected First Source based on our analysis of risk factors of single-family loan servicers in Region 5’s jurisdiction4.   Our audit objectives were to determine whether First Source (1) consistently and appropriately applied loss mitigation options for eligible borrowers, (2) accurately reported the default and 90-da

We performed a limited review of Midland Mortgage Company (Midland) as a result of our internal audit of the Federal Housing Administration (FHA) – Home Affordable Modification Program (HAMP). Our objective was to determine whether Midland followed U. S. Department of Housing and Urban Development (HUD) rules and regulations when processing defaulted loans for the FHA-HAMP loss mitigation option.

We audited Semper Home Loans, Inc. (Semper), a Federal Housing Administration (FHA) lender approved to underwrite and close mortgage loans without prior FHA review or approval. We selected Semper because its early payment default rate was higher than the default rate in the local area in which it does business. Our audit objectives were to determine (1) whether Semper acted in a prudent manner and complied with U.S.

The U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector General audited Access National Mortgage Corporation (Access National) to determine whether it complied with HUD regulations, procedures, and instructions in originating, underwriting, and submitting for endorsement the FHA-insured loans selected for review.

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.

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.

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.

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.