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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. (United States Code) 3801-3812, as implemented by 24 CFR (Code of Federal Regulations) Part 28, for material violations of HUD’s underwriting requirements for an FHA-insured mortgage loan originated and underwritten by Cunningham.  HUD contended that Cunningham failed to document any effective income on behalf of the borrower.

On December 8, 2015, Cunningham entered into a settlement agreement with HUD to avoid expense and administrative proceedings and to reach a satisfactory resolution.  Cunningham agreed to pay $77,527 to HUD to satisfy all claims in the matter, which it paid at the time of settlement.  The settlement agreement did not constitute an admission of liability or fault on the part of any party.