U.S. flag

An official website of the United States government Here’s how you know

The .gov means it’s official.

Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

The site is secure.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Hotline

Report Fraud, Waste and Abuse

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.

5 items
    Clear all
    Issued Between
    Pierce Commercial Bank, Tacoma, WA, Did Not Properly Underwrite a Selection of FHA Loans
    The U.S. Department of Housing and Urban Development (HUD) – Office of Inspector General (OIG) reviewed 46 Federal Housing Administration (FHA) loans that Pierce Commercial Bank underwrote as an FHA direct endorsement lender. Pierce was a supervised FHA direct endorsement lender located in Tacoma, WA. This case was referred to us by OIG’s Office of Investigation. Our review objective was to determine whether Pierce underwrote 46…
    September 30, 2011
    Memorandum
    #2011-SE-1801
    Bank of America, Seattle, Washington, Needs to Improve Its Compliance with HUD Requirements
    We reviewed Bank of America's (servicer) home equity conversion mortgage (HECM) servicing division located in Seattle, Washington. Bank of America is one of the largest lenders of HECM mortgages for properties located in the five southwest states in the U. S. Department of Housing and Urban Development's (HUD) Region VI jurisdiction. Our objective was to determine whether the servicer complied with HUD regulations,…
    July 29, 2009
    Report
    #2009-FW-1013
    Eagle Home Mortgage, Kirkland, Washington, Did Not Always Comply with HUD Guidelines When Underwriting Federal Housing Administration-Insured Loans
    We audited single-family loan originations at Eagle Home Mortgage (Eagle Mortgage), located in Kirkland, Washington, to determine whether it originated Federal Housing Administration (FHA)-insured loans in accordance with U.S. Department of Housing and Urban Development (HUD) requirements. Eagle Mortgage did not always originate FHA insured loans in accordance with HUD requirements. Specifically, Eagle Mortgage did not follow HUD'…
    July 20, 2009
    Report
    #2009-SE-1003
    Actions Under Program Civil Remedies Act, Washington Mutual Bank, Seattle, Washington
    We audited late endorsement payment histories at Washington Mutual Bank (Washington Mutual), Seattle, Washington. We reported the results of our review in Audit Report 2005-SE-1006, issued on July 5, 2005. After the audit report was issued and the report recommendations were closed out in HUD’s Audit Resolution and Corrective Actions Tracking System (ARCATS), we recommended that HUD’s Office of General Counsel take additional…
    November 16, 2008
    Memorandum
    #2009-SE-1801
    A Plus Mortgage Inc., Tukwila, WA, Overcharged Borrowers and Allowed Independent Contractors and Unapproved Branches to Originate Loans
    We audited A Plus Mortgage, Inc. (A Plus), to determine whether (1) the fees charged to Federal Housing Administration (FHA) borrowers by A Plus were appropriate under U.S. Department of Housing and Urban Development (HUD), FHA, and Real Estate Settlement Procedures Act (RESPA) regulations and (2) the loan officers originating FHA-insured loans were employees of A Plus. A Plus disregarded HUD FHA requirements and provisions of RESPA…
    May 07, 2008
    Report
    #2008-SE-1004