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Mark Ross , Public Trust Officer Office of Lender Activities and Program Compliance

HOPE for Homeowners (H4H). Monitoring. Mark Ross , Public Trust Officer Office of Lender Activities and Program Compliance. H4H – Fraud Detection. Borrower conviction – 10 years prior to H4H FHA mortgage insurance date Independent background check during quality assurance review process

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Mark Ross , Public Trust Officer Office of Lender Activities and Program Compliance

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  1. HOPE for Homeowners (H4H) Monitoring Mark Ross, Public Trust Officer Office of Lender Activities and Program Compliance

  2. H4H – Fraud Detection Borrower conviction – 10 years prior to H4H FHA mortgage insurance date • Independent background check during quality assurance review process • Review of lender file documentation • Conduct borrower and/or 3rd-party interview(s)

  3. H4H – Neighborhood Watch • Separate performance view • Comparison/analysis by mortgagee participants, area, default status • Data display by units, mortgage amounts, loan purpose, served/underserved tracts, and ADP data • Loan level results to include borrower eligibility data elements

  4. H4H – Neighborhood Watch

  5. H4H – Credit Watch Termination Initiative • H4H loans excluded from performance analysis of lender branch compare ratio • Separate module in Neighborhood Watch display and analyze lender/loan/area performance

  6. H4H – Quality Assurance Reviews Targeting • Lender targeting plan • Loan level risk targeting tool • Quality control plan reviews

  7. H4H – Quality Assurance Reviews Loan File Review • Eligibility of borrower, mortgage, property • Maximum mortgage amount calculation • Underwriting • 1st loan payment documentation • Borrower and lender certifications • Equity and appreciation sharing • H4H file documentation • Quality assurance plan

  8. H4H – Quality Assurance Reviews Post File Review Activities • Subordinate financing search • Borrower fraud check • Re-verification • Telephone interviews • Signed statements

  9. H4H – Quality Assurance Reviews Potential Outcomes • Findings letter • Corrective action • Indemnification • Fraud referral • Mortgagee review board referral

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