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2017-NY-1007-001-A
Status
Closed
Date Issued
February 17, 2017
Closed Date
June 20, 2018
OIG Component Office
Audit
We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage to repay the $19,136 in ineligible holding costs to the FHA insurance fund.
Program Office
Housing
Questioned Costs
$19,136.00
Better Funds Use
$0.00
Publication Report Number
2017-NY-1007

Related Recommendations

Recomendation Status Date Issued Summary
2017-NY-1007-001-B Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage to ensure that reimbursement is not requested for holding costs incurred beyond the conveyance deadline related to FHA loan number 281-3493258.
2017-NY-1007-001-C Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage to instruct the investors or holders for FHA loan numbers 501-7067695, 501-6877136, 061-0982338, and 501-5885504 to transfer these loans to FHA-approved servicers.
2017-NY-1007-001-D Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage to implement procedures to ensure that FHA loans are transferred only to FHA-approved servicers regardless of investor input.
2017-NY-1007-001-E Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage to strengthen conveyance procedures to ensure that properties are transferred to HUD within 30 days of securing the property, thereby ensuring that ineligible costs are not paid by HUD on future loans submitted for claim.
2017-NY-1007-001-F Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage to strengthen program controls and procedures to ensure that servicing efforts are accurately reported in HUD systems, thereby complying with HUD’s loss mitigation requirements.
2017-NY-1007-001-G Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing review the part B claim paid for FHA loan number 501-7612832, determine the amount of holding costs paid after the conveyance deadline, and require the relevant servicer to repay the ineligible holding costs to the FHA insurance fund.
2017-NY-1007-002-A Closed February 17, 2017 We recommend that the Acting Deputy Assistant Secretary for Single Family Housing instruct Seneca Mortgage officials to develop and implement program controls and procedures for FHA-insured loans being subserviced by another lender, including procedures for conducting quality control reviews of the subservicer’s actions.