HUD OIG is conducting an audit of Ginnie Mae's portfolio and issuer oversight. According to a Ginnie Mae report issued in December 2024 , 88.97% of Ginnie Mae's approximately $2.6 trillion in guaranteed pooled loans are owned by 30 mortgage companies, of which 22 of them are nonbank institutions. Our audit objective is to assess Ginnie Mae's evaluation of nonbank issuer concentration risk. 

HUD OIG is auditing Ginnie Mae's response to audit 2016-KC-0002, which reported on uninsured single-family loans remaining in mortgage backed securities (MBS) pools. Loans that lack FHA, VA, or RHS insurance/guarantees are considered defective and issuers must cure the defect, buy them out from MBS pools or substitute them with other loans of the same term. Our audit objective is to verify that Ginnie Mae (1) established a maximum time...

HUD OIG is conducting an audit of Ginnie Mae’s guidance and processes for troubled issuers. Our objective is to assess Ginnie Mae’s guidance and processes for handling troubled issuers. Specifically, we will assess whether Ginnie Mae’s guidance and processes provide reasonable assurance that 1) the risks and challenges identified by Ginnie Mae and HUD OIG of its use of rapid relocation extinguishments have been addressed, and whether...

HUD OIG is reviewing GNMA’s financial crisis readiness program. To ensure its mission, GNMA must be prepared for a broad range of crises, including financial crises, that could impact itself or its issuers. Our objective is to determine whether GNMA implemented a financial crisis readiness program that met industry best practices. According to GAO, best management practices refer to the processes, practices, and systems identified in...

We conducted this evaluation due to the growing homeless crisis and the U.S. Department of Housing and Urban Development’s (HUD) establishing a goal of ending homelessness.  Our objective was to evaluate the challenges that participating public housing agencies (PHA) face in meeting the goals and objectives of the HUD Veterans Affairs Supportive Housing (VASH) program. The results from our limited review may help HUD in...

HUD OIG is reviewing HUD's Veterans Affairs Supportive Housing (VASH) program.  Congress appropriated $40 million in both 2017 and 2018 to serve approximately 10,000 total families and an additional $40 million in 2019.  The review objective is to evaluate the challenges that participating Public Housing Authorities face in meeting the goals and objectives of the VASH program.