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Single Family Housing

Final Civil Action: First American Mortgage Trust Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Attorney’s Office for the District of Massachusetts in the civil investigation of First American Mortgage Trust.  First American has its principal place of business in Brighton, MA, and does business as NXTLoan.Com Corp., a Delaware corporation.  First American is the parent company of NXTL.

Alpine First Preston Joint Venture II, LLC, Alpine, UT, Did Not Always Comply With Its Contract With HUD and Its Own Requirements for the Marketing and Sale of HUD-Owned Properties in the State of IL

We audited Alpine First Preston Joint Venture II, LLC, a contracted asset manager in HUD’s real estate-owned Management and Marketing III program, as part of the activities included in our 2017 annual audit plan and because it was the sole contractor to market and sell U.S. Department of Housing and Urban Development (HUD) owned properties located in Illinois. Our audit objective was to determine whether Alpine complied with its contract with HUD’s and its own requirements for the marketing and sale of HUD-owned properties in the State of Illinois.

Cityside Management Corporation Pays $4.3 Million to Resolve False Claims Act Allegations

CITYSIDE MANAGEMENT CORPORATION PAYS $4.3 MILLION TO RESOLVE FALSE CLAIMS ACT ALLEGATIONS

Office of the United States Attorney
Eastern District of California
U.S. Attorney Phillip A. Talbert
FOR IMMEDIATE RELEASE
Wednesday, July 26, 2017
www.justice.gov/edca
CONTACT: LAUREN HORWOOD
PHONE: 916-554-2706
usacae.edcapress@usdoj.gov

CITYSIDE MANAGEMENT CORPORATION PAYS $4.3 MILLION TO RESOLVE FALSE CLAIMS ACT ALLEGATIONS

Farr sentenced to 14 years for squatting crimes

(Source: beverlyreview.net) One of four men found guilty of illegally taking over several vacant homes in Beverly/Morgan Park two years ago, a practice commonly known as squatting, has been sentenced to 14 years in prison.

David Farr, also known as Fahim Ali, was admitted into the Northern Reception and Classification Center in Joliet on May 24, according to the Illinois Department of Corrections (IDOC).

His projected parole date and discharge date have yet to be determined.

Man Sentenced to 14 years in Squatting Case

(Source: chicagotribune.com) A man previously described as the ring leader of a criminal enterprise that illegally took possession of several homes in the Chicago area has been sentenced to 14 years in prison, according to the Cook County state's attorney's office.

David Farr was sentenced Monday by Cook County Circuit Court Judge Alfredo Maldonado. He had been convicted last Sept. 30 of felonies, including theft of over $1 million and financial institution fraud.

HUD Did Not Ensure That Lenders Properly Processed Voluntary Terminations of Insurance Coverage on FHA Loans and Disclosed All Implications of the Terminations to the Borrowers

The U.S. Department of Housing Urban Development (HUD), Office of Inspector General audited HUD to determine whether it ensured that lenders properly processed voluntary terminations of insurance coverage on single-family Federal Housing Administration (FHA) loans and disclosed all implications of the terminations to the borrowers.  We initiated this audit because of our concern that borrowers might not be aware of the rights they give up when their insurance coverage is terminated.

Judgment Imposed on the Former President and Founder of MDR Mortgage Corporation Regarding Allegations of Failing To Comply With HUD’s Federal Housing Administration Requirements

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), in coordination with the U.S. Department of Justice’s Civil Division and the U.S. Attorney’s Office for the Northern District of Illinois’ Eastern Division, conducted a joint review of the former president and founder of MDR Mortgage Corporation.

One Individual Charged With Making False Statements in a Reverse Mortgage Loan Application

SAN JUAN, P.R – On March 29, 2017, a federal grand jury in the District of Puerto Rico returned a one count indictment charging Tommy Rudy Habibe-Arias with making false statements in an application for a Home Equity Conversion Mortgage loan (commonly known as a “Reverse Mortgage”), announced United States Attorney for the District of Puerto Rico, Rosa Emilia Rodríguez-Vélez. The U.S. Department Housing & Urban Development- Office of Inspector General (HUD-OIG) is conducting the investigation.

 

Final Civil Action – United Shore Financial Services, LLC, Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice, Washington, DC, and the U.S. Attorney’s Office, Eastern District of Michigan, in the civil investigation of United Shore Financial Services, LLC.  United Shore is a Federal Housing Administration (FHA)-approved mortgage lender, with its principal place of business located in Troy, MI.

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