We reviewed Sun West Mortgage Company’s loan underwriting activities, including quality controls, based on a citizen complaint alleging that the mortgage company was deficient in underwriting its loans. The complaint further alleged that the mortgage company used unauthorized staff in another country and shared user identification numbers to “pre-underwrite” Federal Housing Administration (FHA)-insured loans. Our objective was to d
loanDepot's FHA-Insured Loans With Golden State Finance Authority Downpayment Assistance Gifts Did Not Always Meet HUD Requirements
We audited loanDepot, LLC, based on a referral from the U.S.
September 30, 2015
The County of Santa Barbara, CA, Did Not Comply With HOME Investment Partnerships Program Requirements
We reviewed the County of Santa Barbara’s HOME Investment Partnerships program due to concerns expressed by the U.S.
July 09, 2013
We audited loans originated by Bankers Mortgage Group, Woodland Hills, CA, in response to a referral from the Office of Inspector General’s (OIG) Office of Investigation alleging that Bankers Mortgage Group originated loans with false documentation. Our objective was
to determine whether the lender originated FHA-insured loans using sufficient, reliable, and valid documentation.
September 13, 2012
Countrywide Bank, FSB, Calabasas, CA, Did Not Comply With HUD Requirements for Underwriting FHA Loans and Fully Implement Its Quality Control Program In Accordance With HUD's Requirements
The U.S. Department of Housing and Urban Development, Office of Inspector General audited Countrywide Bank, FSB (Countrywide),* a Federal Housing Administration (FHA) supervised lender** approved to originate, underwrite, and submit mortgages for insurance under the U.S. Department of Housing and Urban Development’s (HUD) direct endorsement program.
September 30, 2011
Prospect Mortgage, LLC, Sherman Oaks, CA, Did Not Always Comply With Federal Housing Administration Underwriting and Quality Control Requirements
We audited Federal Housing Administration (FHA)-insured loans underwritten by Prospect Mortgage, LLC (Prospect), within Region IV of the U. S. Department of Housing and Urban Development (HUD) Office of Inspector General (OIG).
July 08, 2011
Financial Freedom Senior Funding Corporation, Irvine, California, Did Not Fully Follow HUD's Reverse Mortgage Requirements for Loans in the San Antonio, Texas Area
We audited Financial Freedom Senior Funding Corporation (Financial Freedom) as part of our annual audit plan objective of improving the integrity of single-family insurance programs. Our objective was to determine whether Financial Freedom complied with U. S. Department of Housing and Urban Development (HUD) origination requirements for the Home Equity Conversion Mortgage program, commonly known as a reverse mortgage.
July 14, 2009