DHI Mortgage Company, LTD's Scottsdale and Tucson, Arizona, Branches did not Always Follow FHA-Insured loan Underwriting and Quality Control Requirements

Descriptive

CreatorUnited States Department of Housing and Urban Development, Office of Inspector GeneralPublisherUnited States Department of Housing and Urban Development, Office of Inspector GeneralDescriptionWe audited Federal Housing Administration (FHA)-insured loan processes at two DHI Mortgage Company,LTD(DHI Mortgage) branchesin Tucson and Scottsdale, Arizona,to determine whether DHI Mortgage originated, approved, and closed FHA-insured single-family loans in accordance with U.S. Department of Housing and Urban Development (HUD) requirements. We chose DHI Mortgage because the Scottsdale, Arizona,branch had adefault rate that was double the default rate for FHA-insured loans for the state of Arizona. After our audit survey, we expanded our review to include the Tucson, Arizona,branch because some loans had both branch numbers on the documentation.Document TypeFederal DocumentBrowse TopicBusiness and IndustryGovernment and PoliticsSubjectMortgage loans--Arizona--AuditingMortgage guarantee insurance--Arizona--FinanceMortgage loans--Corrupt practices--ArizonaDate Original2009-09Date Range2000s (2000-2009)TypeTextOriginal FormatDocuments (other)LanguageEnglishContributing InstitutionState of Arizona Research Library- Arizona State Library, Archives and Public RecordsCollectionArizona Related Federal PublicationsFederal Documents CollectionRights StatementNo Copyright- United States http://rightsstatements.org/vocab/NoC-US/1.0/ Works by the U.S. Government are not eligible for U.S. copyright protection. In some cases, however, the U.S. Government may have been assigned rights to a work. It is the researcher's obligation to determine and satisfy copyright or other use restrictions when publishing or otherwise distributing materials found in these digital collections. Transmission or reproduction of protected items beyond that allowed by fair use requires the written permission of the copyright owners. Researchers must make their own assessments of rights in light of their intended use.

Federal Documents

Federal Executive DepartmentUnited States Department of Housing and Urban Development

Geographic

City or TownScottsdaleTucsonCountyMaricopa CountyPima CountyStateArizonaCountryUnited States

AgencyUnited States Department of Housing and Urban DevelopmentPlaceScottsdaleTucson

Administrative

Acquisition NoteDownloaded from the U.S. Department of Housing and Urban Development's webpage for Arizona audit reports on August 30, 2010 (http://www.hud.gov/offices/oig/reports/az.cfm ).OCLC Number<893231592>Date Digitized2009-09Digital FormatPDF

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DHI Mortgage Company, LTD's Scottsdale and Tucson, Arizona, Branches did not Always Follow FHA-Insured loan Underwriting and Quality Control Requirements