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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.
Final Civil Action – Golden First Mortgage Corporation and Its Owner Settled Alleged Violations of Failing To Comply With Federal Housing Administration Underwriting Requirements (FHA ID #34475)
HUD OIG assisted in an investigation into alleged violations of Federal Housing Administration (FHA) regulations applicable to the direct endorsement program by Golden First Mortgage Corporation and its owner. Golden First is a former FHA-approved mortgage lender, with its principal place of business located in Great Neck, NY. Golden First participated in the direct endorsement program from 1989 until 2010. As a direct endorsement lender, Golden First had the authority to approve mortgage loans for FHA insurance. On April 4, 2013, and August 13, 2013,&nb