The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted HUD’s Office of Program Enforcement in a civil investigation of Pacific Horizon Bancorp, Inc., and two former loan officers at Pacific Horizon. Pacific Horizon has its principal place of business in La Crescenta, CA.
Final Civil Action: Pacific Horizon Bancorp, Inc., and Two Loan Officers Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements
September 30, 2019
Final Civil Action - Gateway Funding Diversified Mortgage Services, LP, Now Known as Finance of America Mortgage, 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.
March 19, 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
The Owners of Civic Towers and Civic Towers Senior in Miami, FL, Generally Corrected Section Eight Housing Assistance Payments To Address Duplicate Benefits and Ensured That the Payments Were Eligible and Supported
We audited the Civic Towers, LLLP, and Civic Towers Senior, LLLP, Section 8 project-based housing assistance payment (HAP) program. We selected the Civic Towers and Civic Towers Senior Section 8 project-based properties for review based on a referral from our Office of Investigation regarding a potential duplication of benefits between the U.S.
December 14, 2018
The Pinellas County Housing Authority, Largo, FL, Generally Administered Its Rental Assistance Demonstration Conversion but Did Not Fully Comply With HUD’s Rent Reasonableness Determinations After Conversion
We audited the Pinellas County Housing Authority’s Rental Assistance Demonstration Program (RAD) conversion to the Section 8 Project-Based Voucher program and compliance after the conversion. We selected the Authority for review in keeping with the goals of our annual audit plan. Our objective was to determine whether the Authority administered its RAD conversion in compliance with U.S.
July 13, 2018
The Owner of Diamond Park, Philadelphia, PA, Generally Managed Its HUD-Insured Property in Accordance With Applicable Requirements
We audited Diamond Park because of concerns raised by the U.S.
May 01, 2018
Yabucoa Housing Project, Yabucoa Volunteers of America Elderly Housing, Inc., Yabucoa, PR, Section 202 Supportive Housing for the Elderly Program
We audited the Yabucoa Volunteers of America Elderly Housing, Inc., Section 202 Supportive Housing for the Elderly Program. We selected the Yabucoa housing project for review based on concerns regarding the slow progress of the project as noted during the audit of the Puerto Rico Department of Housing multifamily special escrow funds. The objective of this audit was to determine whether Volunteers used Section 202 funds in accordan
December 28, 2017
The Owner of Schwenckfeld Manor, Lansdale, PA, Did Not Always Manage Its HUD-Insured Property in Accordance With Applicable HUD Requirements
We audited Schwenckfeld Manor because it was a high-risk multifamily project on our multifamily risk assessment for projects within our region and we had never audited it. Our audit objectives were to determine whether the project owner (1) disbursed project funds for costs that were reasonable, necessary, and supported for the operation and maintenance of the project; and (2) properly disclosed identity-of-interest relationships.
September 25, 2017
Baker Tower, Denver, CO, Incorrectly Disbursed Funds and Did Not Correctly Administer the Project’s Security Deposit Account
We audited Baker Tower Apartments, LLC (corporation), located in Denver, CO, based on data showing that the corporation had taken more than $3.4 million in owner distributions since 2013 and scored poorly on its most current Real Estate Assessment Center physical property inspection. The objective of our audit was to determine whether the corporation complied with the regulatory agreement and U.S.
September 21, 2017