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
Final Civil Action – President of FHA-Approved Lender Settled Allegations of Causing a False Statement To Be Made to HUD Regarding an FHA-Insured Loan (Memorandum not available to the public)
We investigated allegations that the president of a Federal Housing Administration (FHA)-approved lender violated loan origination requirements under the U.S.
August 21, 2014
Southwest Stage Funding, LLC, dba Cascade Financial Services, Took Corrective Action on Loans That Did Not Meet All HUD and FHA Requirements
We reviewed Southwest Stage Funding, LLC, dba Cascade Financial Services, in Gilbert, AZ. We selected Southwest Stage because it originated 1,841 loans totaling more than $244 million during calendar years 2012 and 2013. Further, it had received more loan endorsements on manufactured housing loans than any other lender in Texas since January 1, 2009. Our objective was to determine whether the lender complied with U.S.
July 23, 2014
Final Action – Real Estate Broker Violated U.S. Department of Housing and Urban Development Real Estate-Owned Program Requirements
We investigated allegations that Thomas Bechtel, a real estate broker, violated U.S.
February 23, 2014
Final Action – Real Estate Agent Violated U.S. Department of Housing and Urban Development Real Estate-Owned Program Requirements
We investigated allegations that Tracie Hoker, a real estate agent, violated U.S. Department of Housing and Urban Development (HUD) real estate-owned owner occupancy program requirements. The Cincinnati HUD office referred the complaint to our office. Our investigation revealed that a bidder, using Ms.
February 23, 2014
Final Action – Violations of U.S. Department of Housing and Urban Development Real Estate-Owned Program Requirements
We investigated allegations that John Sherman violated U.S.
January 28, 2014
The U.S. Department of Housing and Urban Development (HUD) Office of Inspector General (OIG) conducted a review to determine whether a former Executive Director of the Superior, WI, Housing Authority, Debra Waterman, charged personal items to the housing authority credit card. We identified approximately $100,000 of unsupported or unallowable expenditures made by Ms. Waterman.
March 30, 2012
As part of the Office of Inspector General’s (OIG) nationwide effort to review the foreclosure practices of the five largest Federal Housing Administration (FHA) servicers (Bank of America, Wells Fargo Bank, CitiMortgage, Ally Financial, Incorporated, and JPMorgan Chase Bank), we reviewed JPMorgan Chase Bank’s (Chase) foreclosure and claims processes.
March 12, 2012