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Report Fraud, Waste and Abuse
5 items
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    Date Issued
    The Owner of Luther Towers II, Wilmington, DE, Did Not Manage Its HUD-Insured Project in Accordance With Its Regulatory Agreement and HUD Requirements
    We audited Luther Towers II because it was a high-risk multifamily project that received low inspection and financial assessment scores on our multifamily risk assessment for projects within our region and we had never audited it.  Our audit objective was to determine whether the owner managed the project in accordance with its regulatory agreement and U.S. Department of Housing and Urban Development (HUD) requirements. The owner of Luther…
    September 21, 2018
    Report
    #2018-PH-1006
    Yabucoa Housing Project, Yabucoa Volunteers of America Elderly Housing, Inc., Yabucoa, PR, Section 202 Supportive Housing for the Elderly Program
    We audited the Yabucoa Volunteers of America Elderly Housing, Inc., Section 202 Supportive Housing for the Elderly Program.  We selected the Yabucoa housing project for review based on concerns regarding the slow progress of the project as noted during the audit of the Puerto Rico Department of Housing multifamily special escrow funds.  The objective of this audit was to determine whether Volunteers used Section 202 funds in…
    December 28, 2017
    Memorandum
    #2018-AT-1802
    The Puerto Rico Department of Housing, San Juan, PR, Did Not Properly Administer Its Multifamily Special Escrow Funds
    We audited the Puerto Rico Department of Housing’s multifamily special escrow funds.  This audit was the result of a referral from the San Juan Office of Multifamily Housing Programs.  The objectives of the audit were to determine whether the Department administered and disbursed its escrow funds in accordance with its memorandum of understanding with the U.S. Department of Housing and Urban Development (HUD) and whether funded…
    March 01, 2017
    Report
    #2017-AT-1003
    J.P. Morgan Chase Bank, Newark, Delaware, Generally Complied with HUD's Origination and Quality Control Requirements for FHA-Insured Single-Family Loans
    We audited the Newark, Delaware, branch office (branch office) of J.P. Morgan Chase bank (J.P. Morgan Chase), a supervised direct endorsement lender approved to originate Federal Housing Administration (FHA) single-family mortgage loans. We selected the branch office because its default rate was above the state’s average default rate. Our objective was to determine whether J.P. Morgan Chase complied with U.S. Department of Housing and Urban…
    July 28, 2009
    Report
    #2009-PH-1010
    Wells Fargo Home Mortgage, Newark, Delaware, Did Not Always Comply with HUD Requirements in the Origination of FHA-Insured Single-Family Loans
    We audited the Newark, Delaware, branch office (branch office) of Wells Fargo Home Mortgage (Wells Fargo). The branch office is mainly responsible for underwriting loans for 22 Wells Fargo sales branch offices in Pennsylvania. We selected the branch office because of its relatively high default rate, compared with the average default rate for the state of Pennsylvania. Our objective was to determine whether the branch office complied with U.S.…
    July 31, 2008
    Report
    #2008-PH-1011