Franklin American Mortgage Company 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.
September 08, 2016
First Tennessee, N.A. 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.
September 29, 2015
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 – 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
Peoples Home Equity, Inc., Brentwood, TN, Did Not Follow HUD Requirements in Approving FHA Loans and Implementing Its Quality Control Program
We audited Peoples Home Equity, Inc.(Peoples), a Federal Housing Administration (FHA) approved nonsupervised direct endorsement lender located in Brentwood, TN. We selected Peoples based on its high default rates. The audit was part of our annual audit plan to review single family programs and lenders. Our audit objectives were to determine whether Peoples complied with HUD requirements when it originated and underwrote FHA loans,
September 30, 2014
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
Metlife Bank's Scottsdale, AZ, Branch Office Did Not Follow FHA-Insured Loan Underwriting and Quality Control Requirements
We audited the Federal Housing Administration (FHA)-insured loan process at MetLife Bank’s (lender) branch in Scottsdale, AZ, to determine whether the lender underwrote FHA-insured loans and implemented a quality control plan in accordance with U.S. Department of Housing and Urban Development (HUD) requirements.
January 25, 2012
Review of Compliance With the Real Estate Settlement Procedures Act by DHI Mortgage, LTD, and Its Closing Agents
We reviewed Federal Housing Administration (FHA)-insured loan settlement documents from two branches of DHI Mortgage Company, LTD (DHI Mortgage), in Arizona. During a previous audit of loan origination by the same branches (audit report number 2009-LA-1018), there was information indicating that the Real Estate Settlement Procedures Act (Act) might have been violated; however, we were unable to report on the issue at the time.
February 08, 2011
We conducted a review of Federal Housing Administration (FHA) loans underwritten by First Tennessee Bank, N.A. (First Tennessee), an FHA direct endorsement lender. This review was conducted as part of our Operation Watchdog initiative to review the underwriting of 15 direct endorsement lenders at the suggestion of the FHA Commissioner.
September 27, 2010