Information System Control Weaknesses Identified in the Loan Accounting System
We reviewed the general and application controls over the U.S.
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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.
First Niagara Bank, Lockport, NY, Did Not Always Properly Implement HUD’s Loss Mitigation Requirements in Servicing FHA-Insured Mortgages
We completed a review of First Niagara Bank’s servicing of Federal Housing Administration (FHA)-insured mortgages and its implementation of the U.S.
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 the uniform residential loan application and an addendum to the loan application. Based on our investigation, HUD alleged that
Final Civil Action – MetLife Home Loans, LLC, Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Loan Requirements
HUD OIG assisted the U.S. Department of Justice, Washington, DC, and the U.S.