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.
Septiembre 08, 2016
Final Civil Action – Borrower Settled Allegations of Not Complying With the Primary Residence Requirement of the Federal Housing Administration Program
HUD OIG conducted a civil investigation of an alleged loan origination fraud scheme involving a cash-out refinance loan that was insured by the Federal Housing Administration (FHA). FHA provides mortgage insurance on loans made by FHA-approved lenders to creditworthy borrowers. Borrowers must occupy the properties as their primary residence for at least 1 year. Borrowers certify to their intent to occupy the property when signing
Marzo 27, 2015
Final Civil Action: Bank of America, Charlotte, NC Settled Allegations of Failing To Comply With HUD’s FHA Underwriting Requirements
Our office assisted the U.S. Department of Justice (DOJ), U.S.
Septiembre 30, 2014
Southwest Stage Funding, LLC, dba Cascade Financial Services, Took Corrective Action on Loans That Did Not Meet All HUD and FHA Requirements
We reviewed Southwest Stage Funding, LLC, dba Cascade Financial Services, in Gilbert, AZ. We selected Southwest Stage because it originated 1,841 loans totaling more than $244 million during calendar years 2012 and 2013. Further, it had received more loan endorsements on manufactured housing loans than any other lender in Texas since January 1, 2009. Our objective was to determine whether the lender complied with U.S.
Julio 23, 2014
Final Civil Action - Bank of America Settled Alleged Violations of the False Claims Act by Countrywide Home Loans, Inc.
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), conducted a review of loans underwritten by Countrywide Home Loans Inc., and its divisions Countrywide Bank FSB and Countrywide Mortgage Ventures, LLC. The objective of the review was to determine whether Countrywide underwrote Federal Housing Administration (FHA) loans in accordance with HUD-FHA regulations.
Junio 12, 2012
As part of the Office of Inspector General’s (OIG) nationwide effort to review the foreclosure practices of the five largest Federal Housing Administration (FHA) mortgage servicers (Bank of America, Wells Fargo Bank, CitiMortgage, JP Morgan Chase, and Ally Financial, Incorporated) we reviewed Bank of America’s foreclosure and claims processes.
Marzo 12, 2012
Review of Compliance With the Real Estate Settlement Procedures Act by DHI Mortgage, LTD, and Its Closing Agents
We reviewed Federal Housing Administration (FHA)-insured loan settlement documents from two branches of DHI Mortgage Company, LTD (DHI Mortgage), in Arizona. During a previous audit of loan origination by the same branches (audit report number 2009-LA-1018), there was information indicating that the Real Estate Settlement Procedures Act (Act) might have been violated; however, we were unable to report on the issue at the time.
Febrero 08, 2011