We audited the Palm Beach County Housing Authority in West Palm Beach, FL, based on concerns raised by news articles stating that the Authority dismissed its former executive director because of financial misconduct and ethical violations. The concerns included bonuses paid and payments for contracted services. Our audit objective was to determine whether the Authority spent U.S.
Northline Point Apartments, Houston, TX, Multifamily Section 8 Program, Subsidized Unsupported Tenants and Uninspected Units
We audited the multifamily Section 8 Project-Based Rental Assistance (PBRA) program at the Northline Point Apartments. We selected Northline Point in accordance with our goal to review the U.S.
June 10, 2019
The Weslaco Housing Authority, Weslaco, TX, Did Not Follow Federal, State, and Authority Requirements for Legal Services
We audited the Weslaco Housing Authority, Weslaco, TX, based on a referral to our office concerning issues with the Authority’s process for awarding its 2014 legal services contract. Our audit objective was to determine whether the Authority procured its U.S.
May 15, 2019
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Bank of America because it has released more than 47,000 Federal Housing Administration (FHA)-insured loans into the Distressed Asset Stabilization Program (DASP) note sales program.
April 09, 2019
Final Civil Action: Universal American Mortgage Company, 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 (DOJ) and the U.S. Attorney’s Office for the Eastern and Western Districts of Washington in the civil investigation of Universal American Mortgage Company, LLC. Our investigation was ongoing when a qui tam action was filed in the U.S.
December 21, 2018
Majestic Management, LLC, St. Louis, MO, a Management Agent for the East St. Louis Housing Authority, Mismanaged Its Public Housing Program
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Majestic Management, LLC’s management agent activities for the public housing program at the East St.
September 26, 2017
MB Financial Bank, Rosemont, IL, Did Not Always Follow HUD’s Underwriting Requirements but Generally Complied With Quality Control Requirements
We audited MB Financial Bank, a Federal Housing Administration (FHA)-approved direct endorsement lender, as part of our efforts to protect the integrity of the U.S.
September 20, 2017
JPMorgan Chase Complied with the Market Rate Requirement for FHA Home Affordable Modification Program Stand-Alone Partial Claims
We audited JPMorgan Chase’s (Chase) Federal Housing Administration Home Affordable Modification Program (FHA-HAMP) stand-alone partial claims. We selected Chase for review based on our analysis of risk factors of loan servicers that filed FHA-HAMP stand-alone partial claims and in accordance with our annual audit plan. Our audit objective was to determine whether Chase complied with the FHA-HAMP stand-alone partial claim market rat
September 15, 2017
Final Civil Action: Financial Freedom, a Division of CIT Bank, N.A., Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Servicing Requirements for HECM Claims
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice (DOJ), Washington, DC, and the U.S.
August 21, 2017
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.
August 11, 2017