The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S.
Final Civil Action: Quicken Loans, Inc., Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements
Towne Mortgage Company, Troy, MI, Generally Implemented Its Loss Mitigation Program in Accordance With HUD’s Requirements
We audited Towne Mortgage Company, a Federal Housing Administration (FHA) nonsupervised lender, as part of the activities in our fiscal year 2018 annual audit plan. We selected Towne Mortgage based on our analysis of risk factors for single-family servicing lenders in Region 5’s jurisdiction.[1] Our audit objective was to determine whether Towne Mortgage properly implemented its Loss Mitigation program for FHA-insured loans in acco
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.
Final Civil Action: GTL Investments, Inc., Doing Business as John Adams Mortgage Company Settled Allegations of Failing To Comply With HUD’s FHA Loan Requirements
The U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector General (OIG), in coordination with the U.S. Attorney’s Office for the Eastern District of Michigan, conducted a review of GTL Investments, Inc., doing business as John Adams Mortgage Company regarding its originations, underwriting, quality control, and endorsement of Federal Housing Administration (FHA) loans.
Member First Mortgage, LLC, Grand Rapids, MI, Generally Implemented Its Loss Mitigation and Quality Control Programs in Accordance With HUD’s Requirements
We audited Member First Mortgage, Limited Liability Company, a Federal Housing Administration (FHA) nonsupervised servicer as part of the activities in our fiscal year 2015 annual audit plan. We selected Member First based upon our analysis of risk factors for single-family servicing lenders in Region 5’s jurisdiction. Our audit objectives were to determine whether (1) Member First complied with the U.S.
Prudential Huntoon Paige Associates, LTD, Did Not Underwrite and Process a $22 Million Loan in Accordance With HUD Requirements
We audited Prudential Huntoon Paige Associates, LTD’s underwriting of a $22.8 million mortgage loan to refinance Lafayette Towers Apartments, a 584-unit highrise multifamily project in Detroit, MI. We initiated the review based on the early default, assignment, and significant amount of the project. Our objective was to determine whether Prudential underwrote and processed the loan for Lafayette Towers according to the U.S.
The Owner and Former Management Agents Lacked Adequate Controls Over the Operation of Lake Village of Fairlane Apartments, Dearborn, MI
We audited Lake Village of Fairlane Apartments as part of the activities in our fiscal year 2014 annual audit plan. We selected the project based on a referral from the U.S.
The Owner and Former Management Agents Lacked Adequate Controls Over the Operation of Lake Village of Auburn Hills, Auburn Hills, MI
We audited the Lake Village of Auburn Hills multifamily project as part of the activities in our fiscal year 2014 annual audit plan. We selected the project based on a request from the U.S.
The Michigan State Housing Development Authority, Lansing, MI, Did Not Follow HUD’s Requirements Regarding the Administration of Its Program
We audited the Michigan State Housing Development Authority’s multifamily project-based Section 8 program for new-regulation projects as part of the activities in our fiscal year 2013 annual audit plan. We selected the Authority based on a referral from U.S.
Gruening Park Apartments, Juneau, AK, Did Not Always Comply With HUD Rules and Regulations
he U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Gruening Park Apartments, a 96-unit apartment complex in Juneau, AK, owned and operated by Alaska Housing Development Corporation, Inc., to determine whether the owner administered the project and its programs in compliance with the regulatory agreement and other HUD requirements.