The Housing Authority of Snohomish County, Everett, WA, Did Not Always Administer Its Section 8 Project-Based Voucher Program in Accordance With HUD Requirements

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The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General selected the Housing Authority of Snohomish County for audit based on a referral from the U.S.

Majestic Management, LLC, St. Louis, MO, a Management Agent for the East St. Louis Housing Authority, Mismanaged Its Public Housing Program

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The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Majestic Management, LLC’s management agent activities for the public housing program at the East St.

The Owner of Schwenckfeld Manor, Lansdale, PA, Did Not Always Manage Its HUD-Insured Property in Accordance With Applicable HUD Requirements

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We audited Schwenckfeld Manor because it was a high-risk multifamily project on our multifamily risk assessment for projects within our region and we had never audited it.  Our audit objectives were to determine whether the project owner (1) disbursed project funds for costs that were reasonable, necessary, and supported for the operation and maintenance of the project; and (2) properly disclosed identity-of-interest relationships. The owner of Schwenckfeld Manor (1) may not have disbursed project funds for costs that were supported as reasonable and necessary for the operation and mainte

SecurityNational Mortgage Company, Las Vegas, NV, Improperly Originated FHA Loans for Properties With Restrictive Covenants

We audited SecurityNational Mortgage Company’s Federal Housing Administration (FHA) loan origination because it was among the top lenders that originated FHA-insured loans with downpayment assistance from the City of Las Vegas.  A previous U.S.

MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD’s Underwriting Requirements but Generally Complied With Quality Control Requirements

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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.

Baker Tower, Denver, CO, Incorrectly Disbursed Funds and Did Not Correctly Administer the Project’s Security Deposit Account

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We audited Baker Tower Apartments, LLC (corporation), located in Denver, CO, based on data showing that the corporation had taken more than $3.4 million in owner distributions since 2013 and scored poorly on its most current Real Estate Assessment Center physical property inspection.  The objective of our audit was to determine whether the corporation complied with the regulatory agreement and U.S.
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