- Combatiendo Fraude
- NOTICIAS Y CONGRESO
- ACERCA DE HUD OIG
JPMorgan Chase Complied with the Market Rate Requirement for FHA Home Affordable Modification Program Stand-Alone Partial Claims
We audited JPMorgan Chase’s (Chase) Federal Housing Administration Home Affordable Modification Program (FHA-HAMP) stand-alone partial claims. We selected Chase for review based on our analysis of risk factors of loan servicers that filed FHA-HAMP stand-alone partial claims and in accordance with our annual audit plan. Our audit objective was to determine whether Chase complied with the FHA-HAMP stand-alone partial claim market rate...
Septiembre 15, 2017
Final Civil Action: Financial Freedom, a Division of CIT Bank, N.A., Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Servicing Requirements for HECM Claims
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice (DOJ), Washington, DC, and the U.S. Attorney’s Office for the Middle District of Florida in a civil investigation of Financial Freedom Acquisition, a division of CIT Bank, N.A. Financial Freedom was originally owned by IndyMac Bank until its failure in 2008, when the Federal Deposit Insurance Corporation was...
Agosto 21, 2017
Reverse Mortgage Solutions, Inc., Settled Alleged Violations of Federal Housing Administration Loan Requirements Related to Home Equity Conversion Mortgages
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted in an investigation into alleged violations by Reverse Mortgage Solutions, Inc., of Federal Housing Administration (FHA) regulations related to its Home Equity Conversion Mortgage (HECM) program. The investigation began due to a qui tam filed under the False Claims Act, 31 U.S.C. (United States Code) 3729, in the U.S. District Court for the...
Septiembre 28, 2015
Cornerstone Home Lending, Houston, TX, Did Not Adequately Underwrite 16 Loans, Violated the Real Estate Settlement Procedures Act, and Did Not Implement an Adequate Quality Control Plan During Our Review Period
We audited Cornerstone Home Lending, formerly known as Cornerstone Mortgage Company. We selected Cornerstone based upon a high default rate at Cornerstone’s Branch 87 in 2007 through 2009. Our audit objectives were to determine whether Cornerstone (1) complied with HUD and Federal Housing Administration (FHA) regulations when originating and underwriting FHA-insured mortgages and (2) implemented a quality control plan that met requirements. ...
Septiembre 26, 2014
CTX Mortgage Company LLC, Dallas TX, Allowed the Recording of Prohibited Restrictive Covenants
We conducted a limited review of Federal Housing Administration (FHA) loans underwritten by CTX Mortgage Company LLC. We selected the lender based on the results of an auditability survey, which determined that CTX Mortgage allowed prohibited restrictive covenants to be filed against Federal Housing Administration (FHA)-insured properties. The objective of our review was to determine the extent to which CTX Mortgage failed to prevent the...
Abril 18, 2013
SWBC Mortgage Corporation Did Not Folow HUD-FHA Underwriting Requirements in 1 and Had Minor Deficiencies In 3 of 10 Single Family Loans
We audited SWBC Mortgage Corporation, a Federal Housing Administration (FHA) direct endorsement lender in San Antonio, TX. We selected the lender for audit because as of September 30, 2011, it had 25 seriously delinquent loans. Our objective was to determine whether the lender originated single-family home loans in accordance with U. S. Department of Housing and Urban Development (HUD) and FHA requirements for loans with amortization dates...
Mayo 15, 2012
J&M Mortgage Brokers, Ltd., Houston, TX, Did Not Comply With HUD-FHA Loan Requirements in Underwriting 6 of 20 Loans
We audited J&M Mortgage Brokers, Ltd., dba Mortgages USA, a Dallas, TX-based nonsupervised direct endorsement lender. We selected J&M because it had a high rate of defaults and claims within the first year. Our audit objectives were to determine whether J&M originated Federal Housing Administration (FHA)-insured single family mortgages in accordance with U. S. Department of Housing and Urban Development (HUD) regulations,...
Marzo 14, 2012
PrimeLending Mortgage, LLP, Plano, TX, Did Not Always Follow HUD-FHA Underwriting Requirements for 12 of 20 Loans Reviewe
We performed an audit of PrimeLending, A PlainsCaptial Company, located in Dallas, TX, a Federal Housing Administration (FHA) direct endorsement lender. We selected PrimeLending for audit because of its high default rate in the Houston, Dallas, and Fort Worth, TX, offices as compared to the average default rate for all FHA loans in those offices. Our objective was to determine whether PrimeLending complied with U. S. Department of Housing and...
Febrero 27, 2012
TXL Mortgage Corporation, Houston, TX, Did Not Comply With HUD-FHA Loan Requirements in Underwriting 16 of 20 Home Loans
We audited TXL Mortgage Corporation, a nonsupervised direct endorsement lender located in Houston, TX. We selected TXL due to one of its loan correspondents’ high default rate. Our audit objectives were to determine whether TXL acted in a prudent manner and complied with U.S. Department of Housing and Urban Development (HUD) regulations, procedures, and instructions in the origination and sponsoring of Federal Housing Administration (FHA)-...
Octubre 06, 2011
AmericaHomeKey, Inc., Dallas, TX, Did Not Follow HUD-FHA Loan Requirements in Underwriting 13 of 20 Manufactured Home Loans
We audited AmericaHomeKey, Inc., a Federal Housing Administration (FHA) direct endorsement lender in Dallas, TX. We selected AmericaHomeKey for audit because during our review of Gold Financial Services (2011-FW-1002), an AmericaHomeKey branch office, we identified three loans originated by one of its underwriters that contained underwriting and valuation deficiencies. Our objective was to determine whether AmericaHomeKey originated...
Septiembre 23, 2011