NEWARK, N.J. – Five people involved in an extensive scheme to obtain millions of dollars through fraudulently obtained tax refund checks issued by the U.S. Treasury pleaded guilty today in Newark federal court, U.S. Attorney Paul J. Fishman announced. Julio C. Concepcion 49, of Passaic, New Jersey Read More

We assisted the U.S. Department of Justice (DOJ) in conducting an investigation of SunTrust Mortgage, Inc.’s underwriting practices for Federal Housing Administration (FHA)-insured loans.  On June 17, 2014, DOJ and the Consumer Financial Protection Bureau, along with 49 State attorneys Read More

We audited the U.S. Department of Housing and Urban Development’s (HUD) procurement and administration of its multifamily mortgage loan and property management servicing and accounting contract.  We conducted this review based on concerns communicated to the HUD Office of Inspector General ( Read More

We audited the U.S. Department of Housing and Urban Development’s (HUD) oversight of its Home Equity Conversion Mortgage (HECM) program and found that 33 borrowers had more than 1 loan under the program.  Having multiple loans violated program requirements because HUD requires borrowers to Read More

We audited the U.S. Department of Housing and Urban Development’s (HUD) oversight of its Home Equity Conversion Mortgage (HECM) program based on our strategic goal to improve the integrity of HUD’s single-family insurance programs and because of residency issues identified in prior audits of the Read More

We audited the U.S. Department of Housing and Urban Development’s (HUD) oversight of property flipping as part of the activities in our fiscal year 2013 annual audit plan, which includes contributing to the protection of the integrity of housing insurance and guarantee programs.  Our audit Read More

We audited Prudential’s underwriting of a $49 million mortgage loan to develop the Preserve at Alafia, a multifamily project located in Riverview, FL.  We initiated the review based on the early default, assignment, and significant amount of the project.  Our objective was to determine Read More

The U.S. Department of Housing and Urban Development – Office of Inspector General audited HUD’s Federal Housing Administrations single family mortgage seven-loan limit.  We initiated this review based on issues identified in an audit of the Wyoming Housing Opportunities Association in Read More

The U.S. Department of Housing and Urban Development – Office of Inspector General audited HUD’s fiscal year 2013 compliance with the user fee requirements in Office of Management and Budget Circular A-25 and the Chief Financial Officers (CFO) Act of 1990.  We initiated the audit based on Read More

The U.S. Department of Housing and Urban Development’s (HUD), Office of Inspector General (OIG), in conjunction with the Department, the U.S. Department of Justice, and the U.S. Attorney’s Offices for the Eastern District of Michigan and Northern District of Ohio, conducted a joint investigation Read More

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 Read More

Our office assisted the U.S. Department of Justice (DOJ), U.S. Attorney’s Office, Eastern District of New York, in conducting an investigation of Bank of America’s origination of mortgage loans insured by the Federal Housing Administration (FHA) from May 1, 2009, through March 31, 2012.  Read More

We audited Cornerstone Home Lending, formerly known as Cornerstone Mortgage Company.  We selected Cornerstone based upon a high default rate at Cornerstone’s Branch 87 in 2007 through 2009.  Our audit objectives were to determine whether Cornerstone (1) complied with HUD and Federal Read More

We conducted a civil fraud review of an alleged loan origination fraud scheme involving a loan officer that assisted a borrower to purchase a home under the U.S. Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA) program.  The alleged scheme involved Read More

We assisted the U.S. Attorney’s Office of the Northern District of California in the civil investigation of Reunion Mortgage, Inc. (Reunion).  Reunion is a former Federal Housing Administration (FHA)-approved mortgage lender, with its principal place of business located in Milpitas, CA. Read More

The U.S. Department of Housing and Urban Development’s (HUD), Office of Inspector General reviewed HUD’s Federal Housing Administration (FHA) loss mitigation program.  We initiated this audit due to our concern that FHA might have incurred costs while allowing lenders to make large amounts of Read More

At the request of the Director of the U.S. Department of Housing and Urban Development’s (HUD) Houston, TX, Office of Multifamily Housing Programs, we conducted a review of Yale Court Apartments (project).  Our objective was to determine whether the project owner used the project funds in Read More

We audited the Housing Authority of the City of Meridian’s Queen City apartments at the request of the U.S. Department of Housing and Urban Development’s (HUD) Single Family Office of Asset Management.  Our objectives were to determine whether the Authority acquired, financed, and managed the Read More

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited the Wyoming Housing Opportunities Association (Association) based on information obtained during a separate audit of the Wyoming Community Development Authority (State Finance Agency), which indicated Read More

STATESVILLE, N.C. B Roger Dean Bailey, Jr., 41, or Hickory, N.C. was sentenced to 30 months in prison today for his role in a mortgage and consumer fraud conspiracy involving manufactured and modular homes, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina. U.S. Read More