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The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Federal Housing Administration (FHA)-insured loans from fiscal year 2018. Our audit objective was to determine whether FHA provided insurance on loans that were made to ineligible, delinquent Federal tax debtors.
We audited Summit Construction and Environmental Services, LLC, because we received an anonymous complaint alleging that Summit Construction (1) did not perform lead-based paint evaluations in a timely manner, (2) did not produce adequate lead-based paint inspection reports in accordance with applicable requirements, and (3) showed favoritism toward certain contractors performing lead-paint inspections. Our objective was to determine whether the allegations in the complaint had merit. We focused the audit on determining whether Summit Construction (1) performed tim
While the majority of companies promoting FHA reverse mortgages are safe there are some mortgage fraudsters out to take your money, your house, or even your identity. Reading this alert is your best defense. A reverse mortgage allows borrowers to convert part of the equity in their homes into cash…
While the Department of Housing and Urban Development - Office of Inspector General (HUD OIG) recognizes that there are times when Home Equity Conversion Mortgages (HECM) refinances are beneficial to consumers, HUD OIG is issuing this industry alert to warn lenders, originators, and sponsors that the OIG has identified instances of fraudulent appraisals being used to increase HECM loan amounts in order to qualify senior borrowers for HECM refinancing. HUD OIG special agents have reviewed HECM refinances over the last several years and have identified indications of fraud in hundreds of…
The U.S. Department of Housing and Urban Development’s Office of Inspector General (HUD OIG) advises the public on how to recognize sovereign citizen occupation of a vacant property and the use of false deeds to support Section 8 leasing.
Avoid putting yourself in danger or accepting fraudulent documents. This bulletin explains how to protect yourself as well as HUD’s interests.
What you need to know to protect yourself from loan modification and foreclosure rescue scams. Every day, loan modification and foreclosure rescue scams rob vulnerable homeowners of their money and their homes. The U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector…
Every day, loan modification and foreclosure rescue scams rob vulnerable homeowners of their money and their homes. Housing counselors can help fight back and put a stop to these crimes.
The U.S. Department of Housing and Urban Development (HUD) Office of Inspector General (OIG) is the Department’s law enforcement arm and is responsible for investigating complaints of mortgage fraud. We are working with HUD's Federal Housing Administration (FHA) and HUD-approved counseling agencies to identify scams, stop cases of suspected fraud, and prosecute the perpetrators.
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited the Federal Housing Administration (FHA) based on the results of another audit, which found that the lender improperly filed for partial claims before completing the loan modifications and reinstating the loans. Our audit objective was to determine whether FHA improperly paid partial claims that did not reinstate the delinquent loans.
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Bank of America because it has released more than 47,000 Federal Housing Administration (FHA)-insured loans into the Distressed Asset Stabilization Program (DASP) note sales program. Since its inception, DASP has facilitated the sale of more than 108,000 FHA loans, which means that Bank of America accounts for nearly half of the entire program. This is the fourth in a series of audits on DASP.
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice (DOJ) and the U.S. Attorney’s Office for the Northern District of New York in a civil investigation of Gateway Funding Diversified Mortgage Services, LP, now known as Finance of America Mortgage, LLC (FAM). Gateway was a Federal Housing Administration (FHA)-approved mortgage lender. On May 31, 2015, FAM’s parent company acquired Gateway. FAM has its principal place of business in Horsham, PA.
