The Offices of Audit and Evaluation supervise and conduct independent and objective audits, evaluations, and other reviews of U.S. Department of Housing and Urban Development (HUD) programs and activities to ensure they operate economically, efficiently, and effectively. This page contains links to our audit and evaluation reports and memoranda.
P.K. Management Group, Inc., Doral, FL, Did Not Always Provide Property Preservation and Protection Services in Accordance With Its Contract With HUD and Its Own Requirements
We audited P.K. Management Group, Inc. (PKMG), a contracted field service manager in HUD’s real estate-owned Management and Marketing III program, as part of the activities included in our 2016 annual audit plan and because it was the sole contractor performing property preservation and protection services for U.S. Department of Housing and Urban Development (HUD)-acquired properties located in Illinois in Region’s 5 jurisdiction.…
September 29, 2016
Report
#2016-CH-1008
EverBank Did Not Properly Determine Mortgagor Eligibility for FHA’s Preforeclosure Sale Program
We audited EverBank’s Preforeclosure Sale Program because it had the highest Florida preforeclosure sale claims of all servicing lenders located in Florida and more than 50 percent of its Florida Federal Housing Administration (FHA) claims were from preforeclosure sales with more than $12.9 million paid from 2011 through 2013. Our objective was to determine whether EverBank properly determined that mortgagors were eligible to…
September 29, 2014
Report
#2014-AT-1012
The Universal American Mortgage Company, Miami, FL, Branch, Did Not Comply With HUD Regulations When Originating and Underwriting FHA Loans and Implementing Its Quality Control Program
HUD OIG audited Universal American Mortgage, Co. LLC, located in Miami, FL, in accordance with our annual audit plan. Universal was selected for review because its default rate of 3.8 percent was higher than the Miami area default rate of 1.9 percent. Our objectives were to determine whether the lender followed U.S. Department of Housing and Urban Development (HUD) requirements when originating and underwriting loans and implementing…
June 06, 2012
Report
#2012-AT-1013
Nationwide Mortgage & Associates, Inc., Fort Lauderdale, FL, Did Not Follow HUD Requirements in Approving FHA Loans and Implementing Its Quality Control Program
HUD OIG audited Nationwide Mortgage & Associates, Inc., a Federal Housing Administration (FHA)-approved non-supervised direct endorsement lender located in Fort Lauderdale, FL. We selected this lender because its default rate of 4 percent was higher than the Miami U.S. Department of Housing and Urban Development (HUD) area average default rate of 2 percent. The audit objectives were to determine whether the lender followed HUD…
May 31, 2012
Report
#2012-AT-1011
Crossfire Financial Network, Miami, FL, Did Not Follow HUD Requirements in Approving FHA Loans and Implementing Its Quality Control Program
HUD OIG performed an audit of Crossfire Financial Network, Inc., d/b/a CFN Mortgage Capital (Crossfire), a Federal Housing Administration (FHA) approved direct endorsement lender located in Miami, Florida. The review was performed based on the lender’s volume of loans underwritten and its default rate. The purpose of the audit was to determine whether the lender followed the U.S. Department of Housing and Urban Development’s (HUD)…
June 24, 2011
Report
#2011-AT-1010
Crossfire Financial Network, Miami, FL, Did Not Follow HUD Requirements in Approving FHA Loans and Implementing Its Quality Control Program
HUD OIG performed an audit of Crossfire Financial Network, Inc., d/b/a CFN Mortgage Capital (Crossfire), a Federal Housing Administration (FHA) approved direct endorsement lender located in Miami, Florida. The review was performed based on the lender’s volume of loans underwritten and its default rate. The purpose of the audit was to determine whether the lender followed the U.S. Department of Housing and Urban Development’s (HUD)…
June 24, 2011
Report
#2011-AT-1010
Nationwide Home Loans, Miami, FL, Did Not Follow HUD Requirements in Approving FHA Loans and Implementing Its Quality Control Program
HUD OIG performed an audit of Nationwide Home Loans, Inc. (Nationwide), a Federal Housing Administration (FHA) approved direct endorsement lender located in Miami, Florida. The review was performed based on the lender’s high default rates. The purpose of the audit was to determine whether the lender followed the U.S. Department of Housing and Urban Development’s (HUD) requirements when (1) originating and underwriting loans and (2)…
October 25, 2010
Report
#2011-AT-1001
Nationwide Home Loans, Miami, FL, Did Not Follow HUD Requirements in Approving FHA Loans and Implementing Its Quality Control Program
HUD OIG performed an audit of Nationwide Home Loans, Inc. (Nationwide), a Federal Housing Administration (FHA) approved direct endorsement lender located in Miami, Florida. The review was performed based on the lender’s high default rates. The purpose of the audit was to determine whether the lender followed the U.S. Department of Housing and Urban Development’s (HUD) requirements when (1) originating and underwriting loans and (2)…
October 25, 2010
Report
#2011-AT-1001
Lendamerica Home Loans, Coral Gables, FL, Did Not Follow HUD Requirements in Originating Loans and Implementing Its Quality Control Program
HUD OIG performed an audit of Lendamerica Home Loans, Inc., a Federal Housing Administration approved direct endorsement lender located in Coral Gables, Florida. The review was performed based on the lender’s high default rates. The purpose of the audit was to determine whether the lender followed the U.S. Department of Housing and Urban Development’s (HUD) requirements for (1) originating and underwriting loans and (2) implementing…
May 20, 2010
Report
#2010-AT-1005
Lendamerica Home Loans, Coral Gables, FL, Did Not Follow HUD Requirements in Originating Loans and Implementing Its Quality Control Program
HUD OIG performed an audit of Lendamerica Home Loans, Inc., a Federal Housing Administration approved direct endorsement lender located in Coral Gables, Florida. The review was performed based on the lender’s high default rates. The purpose of the audit was to determine whether the lender followed the U.S. Department of Housing and Urban Development’s (HUD) requirements for (1) originating and underwriting loans and (2) implementing…
May 20, 2010
Report
#2010-AT-1005