MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD’s Underwriting Requirements but Generally Complied With Quality Control Requirements
We audited MB Financial Bank, a Federal Housing Administration (FHA)-approved direct endorsement lender, as part of our efforts to protect the integrity of the U.S.
September 20, 2017
Alpine First Preston Joint Venture II, LLC, Alpine, UT, Did Not Always Comply With Its Contract With HUD and Its Own Requirements for the Marketing and Sale of HUD-Owned Properties in the State of IL
We audited Alpine First Preston Joint Venture II, LLC, a contracted asset manager in HUD’s real estate-owned Management and Marketing III program, as part of the activities included in our 2017 annual audit plan and because it was the sole contractor to market and sell U.S. Department of Housing and Urban Development (HUD) owned properties located in Illinois.
August 11, 2017
Judgment Imposed on the Former President and Founder of MDR Mortgage Corporation Regarding Allegations of Failing To Comply With HUD’s Federal Housing Administration Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), in coordination with the U.S. Department of Justice’s Civil Division and the U.S. Attorney’s Office for the Northern District of Illinois’ Eastern Division, conducted a joint review of the former president and founder of MDR Mortgage Corporation.
March 31, 2017
Mortgage Services III, LLC, Bloomington, IL, Generally Complied With HUD’s Underwriting and Quality Control Requirements
We audited Mortgage Services III, LLC, a Federal Housing Administration (FHA)-approved direct endorsement lender, as part of the activities in our fiscal year 2016 annual audit plan. We selected Mortgage Services for review based on an analysis of data in the U.S.
September 30, 2016
Nations Lending Corporation, Independence, OH, Needs To Improve Its Quality Control Reviews of Early Payment Defaulted Loans
The U.S. Department of Housing and Urban Development, Office of Inspector General audited Nations Lending Corporation, a Federal Housing Administration (FHA)-approved nonsupervised direct endorsement 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.
June 01, 2012
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) servicers (Bank of America, Wells Fargo Bank, CitiMortgage, Ally Financial, Incorporated, and JPMorgan Chase Bank), we reviewed JPMorgan Chase Bank’s (Chase) foreclosure and claims processes.
March 12, 2012
We reviewed alleged violations of U.S. Department of Housing and Urban Development (HUD) real estate-owned (REO) owner-occupancy program requirements by the subject (name withheld for privacy reasons). We concluded that the subject failed to comply with the HUD REO program requirement that an individual who purchases a REO home during its initial offering period must be the owner-occupant of the purchased home for one full year.
August 01, 2011
The U.S. Department of Housing and Urban Development (HUD) audited PNC Mortgage (PNC), a Federal Housing Administration (FHA)-approved nonsupervised lender and servicer. We selected PNC for audit based on a citizen’s complaint regarding National City Mortgage Corporation (National City). PNC acquired National City in December 2008. Therefore, the report will be addressed to the current entity.
April 06, 2011
Final Civil Action - Anchor Mortgage Corporation, Chicago, IL Loan Origination Fraud - Violations of the False Claims Act
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), completed a review of loan origination practices of Anchor Mortgage Corporation (Anchor), Chicago, IL. Our objective was to identify violations of Federal Housing Administration (FHA) requirements and the related losses incurred by HUD.
September 30, 2010