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***NEW*** HUD OIG’s reviews of foreclosure practices at five of the nation’s largest FHA servicers

March 14, 2012

HHS OIG’s reviews of foreclosure practices at five of the nation’s largest FHA servicers
Source: U.S. Department of Housing and Urban Development, Office of Inspector General

As part of the Office of Inspector General’s (OIG) nationwide effort to review the foreclosure practices of the five largest Federal Housing Administration (FHA) mortgage servicers (Bank of America, Wells Fargo Bank, CitiMortgage, JP Morgan Chase, and Ally Financial, Incorporated) we reviewed Wells Fargo’s foreclosure and claims processes. In addition to this memorandum, OIG issued separate memorandums for each of the other four reviews. OIG performed these reviews due to reported allegations made in the fall of 2010 that national mortgage servicers were engaged in widespread questionable foreclosure practices involving the use of foreclosure “mills” and a practice known as “robosigning” of sworn documents in thousands of foreclosures throughout the United States.

+ Issue Date: March 12, 2012
Audit Memorandum No. 2012-KC-1801 (PDF)
Title: CitiMortgage, Inc. Foreclosure and Claims Process Review O’Fallon, MO

+ Issue Date: March 12, 2012
Audit Memorandum No. 2012-PH-1801 (PDF)
Title: Ally Financial, Incorporated Foreclosure and Claims Process Review Fort Washington, PA

+ Issue Date: March 12, 2012
Audit Memorandum No. 2012-CH-1801 (PDF)
Title: JPMorgan Chase Bank N.A. Foreclosure and Claims Process Review Columbus, OH

+ Issue Date: March 12, 2012
Audit Memorandum No. 2012-FW-1802 (PDF)
Title: Bank of America Corporation, Foreclosure and Claims Process Review Charlotte, NC

+ Issue Date: March 12, 2012
Audit Memorandum No. 2012-AT-1801 (PDF)
Title: Wells Fargo Bank, Foreclosure and Claims Process Review, Fort Mill, SC

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