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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.
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.
HUD Did Not Correctly Service all Due and Payable Partial Claims
We audited the U.S Department of Housing and Urban Development (HUD) National Servicing Center’s (NSC) tracking and collection of FHA partial claims. We initiated the audit to assess HUD’s implementation of the corrective actions from HUD OIG audit report 2016-KC-0001, HUD Did Not Collect an Estimated 1,361 Partial Claims Upon Termination of Their Related Federal Housing Administration (FHA)-Insured Mortgages; however, we determined based on a referral from HUD OIG’s Financial Audits Division that there was an issue with the collection of partial claims, and the corrective ac
HUD Did Not Pursue Repayment for Improper Payments on Claims Without Conveyance of Title
We audited the U.S. Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA) Claims Without Conveyance of Title (CWCOT) program. We selected this review to assist HUD in recovering improper payments and to reduce the risk of losses to the FHA insurance fund. The objective of our audit was to assess whether HUD is appropriately demanding and collecting improper payments identified for CWCOT loans by its Mortgagee Compliance Manager (MCM).