Final Civil Action: Borrower Settled Alleged Violations of Home Equity Conversion Mortgage Program
We audited the U.S.
Featured filter
Yes
Evergreen Home Loans, Las Vegas, NV, Branch Did Not Always Comply With HUD FHA Origination Regulations
We performed a survey of Evergreen Moneysource Mortgage Company, doing business as Evergreen Home Loans, regarding its Federal Housing Administration (FHA) loan origination process. The review was part of our efforts to improve the integrity of single-family insurance programs. We selected Evergreen’s Las Vegas branch because of its compare ratio. Our audit objective was to determine whether Evergreen’s Las Vegas branch complied with U.S.
Cunningham and Company Settled Alleged Violations of Failing To Comply With Federal Housing Administration Loan Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), investigated Cunningham and Company to determine whether it violated HUD requirements when underwriting loans insured by the Federal Housing Administration (FHA). Cunningham is an FHA mortgage lender, formerly located in Greensboro, NC. Based on OIG’s review, HUD contends that Cunningham may be liable under the Program Fraud Civil Remedies Act of 1986, 31 U.S.C.
Franklin American Mortgage Company Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice, Washington, DC, and the U.S.
Sun West Mortgage Company, Cerritos, CA, Did Not Always Meet HUD-FHA Loan Underwriting and Quality Control Requirements
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 determine whether Sun West followed U.S.
The Georgia Housing and Finance Authority, Atlanta, GA, Did Not Adequately Implement the Federal Housing Administration’s Home Affordable Modification Program in Accordance With HUD’s Requirements
We audited the Georgia Housing and Finance Authority’s implementation of the Federal Housing Administration’s Home Affordable Modification Program (FHA-HAMP). We selected the Authority because (1) our data analysis showed that the Authority had the highest ratio of FHA-HAMP actions to delinquent loans within the jurisdiction of our regional office, (2) the U.S.
HUD Did Not Ensure That Lenders Verified That FHA-Insured Properties in Flint, MI, Had Safe Water
We audited the U.S.
Selene Finance, LP, Houston, TX, Did Not Communicate in a Timely Manner With Delinquent Borrowers
We reviewed Selene Finance, LP’s servicing of its Federal Housing Administration-insured loans and its implementation of the U.S.
Neighborhood Loans, Inc. Did Not Have a Sufficient Quality Control Program for FHA-Insured Loans
We audited Neighborhood Loans, Inc., to evaluate its quality control (QC) program for originating and underwriting Single Family FHA-insured loans. Our audit covered the period October 2020 through September 2022. We selected Neighborhood Loans for review based on its increasing loan volume and delinquency rate and because its rate of self-reporting loans to HUD when it identified fraud, material misrepresentations, and other material findings that it could not mitigate was below average for 5 of the last 6 years.
Flat Branch Mortgage, Inc. Did Not Have a Sufficient Quality Control Program for FHA-Insured Loans
We audited Flat Branch Mortgage, Inc., to evaluate its quality control (QC) program for originating and underwriting Single Family FHA-insured loans. Our audit covered the period October 2020 through September 2022.