We conducted a limited review of Federal Housing Administration (FHA) loans underwritten by Pulte Mortgage LLC. We selected the lender based on the results of an auditability survey, which determined that Pulte Mortgage allowed prohibited restrictive covenants to be filed against Federal Housing Read More

We audited the U.S. Department of Housing and Urban Development’s (HUD) servicing of multifamily projects with HUD-held mortgages because it was part of the Office of Inspector General’s (OIG) annual audit plan. We reviewed 33 multifamily projects with HUD-held mortgages that totaled $307.9 Read More

HUD OIG performed an audit of Crossfire Financial Network, Inc., d/b/a CFN Mortgage Capital (Crossfire), a Federal Housing Administration (FHA) approved direct endorsement lender located in Miami, Florida. The review was performed based on the lender’s volume of loans underwritten and its default Read More

HUD OIG performed an audit of Lendamerica Home Loans, Inc., a Federal Housing Administration approved direct endorsement lender located in Coral Gables, Florida. The review was performed based on the lender’s high default rates. The purpose of the audit was to determine whether the lender Read More

We audited the records for Moosup Gardens Apartments (project), a U.S. Department of Housing and Urban Development (HUD)-insured multifamily project in response to a request from HUD. Our audit objective was to determine whether the project's costs were accurately reported to HUD and in accordance Read More

HUD OIG performed an audit of Nationwide Home Loans, Inc. (Nationwide), a Federal Housing Administration (FHA) approved direct endorsement lender located in Miami, Florida. The review was performed based on the lender’s high default rates. The purpose of the audit was to determine whether the Read More

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 Read More

We audited Eustis Mortgage Corporation, a Federal Housing Administration (FHA) direct endorsement lender located in New Orleans, LA. We selected Eustis Mortgage as a result of our regional risk analysis and the U.S. Department of Housing and Urban Development’s (HUD), Office of Inspector General’ Read More

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General, audited the Utah Housing Corporation in response to a hotline complaint. The complaint contained allegations that the Corporation commingled funds from the FHA first mortgages and the downpayment assistance Read More

We audited the U.S. Department of Housing and Urban Development’s (HUD) oversight of its Home Equity Conversion Mortgage Program based on our annual audit plan and our strategic goal to improve the integrity of HUD’s single-family insurance programs. This is the second of two reports that we Read More

We reviewed 32 Federal Housing Administration (FHA) loans that New Day Financial, LLC, underwrote as a U.S. Department of Housing and Urban Development (HUD) FHA direct endorsement lender. We conducted the review as a result of a risk model assessment that identified mortgage lenders that were at Read More

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. We selected Prysma for audit Read More

We conducted a limited review of Federal Housing Administration (FHA) loans underwritten by Standard Pacific Mortgage, Inc. We selected the lender based on the results of an auditability survey, which determined that Standard Pacific Mortgage allowed prohibited restrictive covenants to be filed Read More

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG) completed its nationwide effort to review the foreclosure practices of the five largest Federal Housing Administration (FHA) mortgage servicers (Ally Financial, Incorporated, Bank of America, CitiMortgage Read More

We audited loans originated by Bankers Mortgage Group, Woodland Hills, CA, in response to a referral from the Office of Inspector General’s (OIG) Office of Investigation alleging that Bankers Mortgage Group originated loans with false documentation. Our objective was to determine whether the Read More

We conducted an audit of the City of Long Beach because it was awarded more than $22.2 million in Recovery and Reinvestment Act of 2009 Neighborhood Stabilization Program 2 (NSP2) funds on February 11, 2010 as the lead agency in a consortium with Habitat for Humanity of Greater Los Angeles ( Read More