Saltillo Assisted Living, Saltillo, MS, Did Not Maintain Liability and Property Insurance
We are conducting an audit survey of Saltillo Assisted Living (project) based on a referral from the U.S.
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Provident Bank, Iselin, NJ, Needs To Improve Controls Over Its Servicing of FHA-Insured Mortgages and Loss Mitigation Efforts
We completed a review of Provident Bank’s servicing of Federal Housing Administration (FHA)-insured mortgages and its implementation of the U.S. Department of Housing and Urban Development’s (HUD) Loss Mitigation program. We selected Provident Bank based on an Office of Inspector General risk assessment of single-family lenders.
The Cooperative and Management Agent Lacked Adequate Controls Over the Operation of Carmen-Marine Apartments, Chicago, IL
We audited the U.S.
Taliafaro, Inc., a Multifamily Housing Management Agent, Did Not Always Comply With HUD’ Requirements or Its Own Policies and Procedures in the Disbursement of Project Funds and Collection of Its Fees
We reviewed the disbursement of project funds for seven of the Sections 202 and 811 supportive housing projects for the elderly and persons with disabilities managed by Taliafaro, Inc. We initiated the audit under the U.S.
Morris Park Did Not Always Comply With Its Regulatory Agreement and HUD Requirements
We audited Morris Park Nursing and Rehabilitation Center based on a risk assessment we performed on nursing homes located in New York and New Jersey. Morris Park has a Section 232 HUD-insured loan in the amount of $7.4 million. The objective of the audit was to determine whether Morris Park officials managed funds in compliance with the regulatory agreement and applicable HUD requirements. Morris Park officials generally managed funds in accordance with the regulatory agreement and HUD requirements. However, in 2013 and 2014, they made two $60,000 distribution