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.
Final Civil Action: Universal American Mortgage Company, LLC, Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements
December 21, 2018
P.K. Management Group, Inc., Doral, FL, Did Not Always Provide Property Preservation and Protection Services in Accordance With Its Contract With HUD and Its Own Requirements
We audited P.K. Management Group, Inc. (PKMG), a contracted field service manager in HUD’s real estate-owned Management and Marketing III program, as part of the activities included in our 2016 annual audit plan and because it was the sole contractor performing property preservation and protection services for U.S.
September 29, 2016
NOVA Financial & Investment Corporation’s FHA-Insured Loans With Downpayment Assistance Gifts Did Not Always Meet HUD Requirements
We audited NOVA Financial & Investment Corporation based on a referral from the U.S.
July 09, 2015
Final Civil Action – Group One Mortgage, Inc., Settled Allegations of Failing To Comply With Federal Housing Administration Underwriting Requirements
HUD OIG assisted the U.S.
March 27, 2015
Final Civil Action – Borrower Settled Allegations of Not Complying With the Primary Residence Requirement of the Federal Housing Administration Program
HUD OIG conducted a civil investigation of an alleged loan origination fraud scheme involving a cash-out refinance loan that was insured by the Federal Housing Administration (FHA). FHA provides mortgage insurance on loans made by FHA-approved lenders to creditworthy borrowers. Borrowers must occupy the properties as their primary residence for at least 1 year. Borrowers certify to their intent to occupy the property when signing
March 27, 2015
We audited EverBank’s Preforeclosure Sale Program because it had the highest Florida preforeclosure sale claims of all servicing lenders located in Florida and more than 50 percent of its Florida Federal Housing Administration (FHA) claims were from preforeclosure sales with more than $12.9 million paid from 2011 through 2013. Our objective was to determine whether EverBank properly determined that mortgagors were eligible to partic
September 29, 2014
Ofori & Associates, PC, Hartford, CT, Did Not Always Comply With Its REO Contract and Marketing Plan Requirements
We audited Ofori & Associates, PC, regarding its U.S. Department of Housing and Urban Development (HUD) real estate-owned (REO) Management and Marketing (M&M) III program. This review was part of the Office of Inspector General’s efforts to improve the integrity of the single-family insurance program.
February 18, 2013
Prysma Lending Group, LLC, Danbury, CT, Complied With HUD-FHA Loan Origination and Quality Control Requirements
We audited Prysma Lending Group, LLC, a nonsupervised lender, located in Danbury, CT, in support of the U.S. Department of Housing and Urban Development (HUD), Office of Inspector General’s (OIG) goal of improving the integrity of the single-family insurance program.
November 13, 2012
Allen Mortgage, LLC, Centennial Park, AZ, Did Not Comply With HUD Requirements for Underwriting FHA Loans and Fully Implement Its Quality Control Program in Accordance With HUD’s Requirements
The U.S. Department of Housing and Urban Development, Office of Inspector General audited Allen Mortgage, Limited Liability Company, a Federal Housing Administration (FHA) nonsupervised lender. We selected Allen Mortgage for audit based on its high default and claim rate for the FHA-insured loans sponsored in Region 5.
September 30, 2012