HUD-Held Vacant Loan Sales Controls for Mission Driven Entities | Office of Inspector General, Department of Housing and Urban Development

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REPORTAR FRAUDE, DESPERDICIO O ABUSO

Title	Announced	Priority Area	Program Area	State
HUD-Held Vacant Loan Sales Controls for Mission Driven Entities Published Report(s) 2024-KC-0001	04/2023	Protecting the Mortgage Insurance Funds	Housing	All

Summary

HUD OIG is auditing the Office of Asset Sales' HUD-Held Vacant Loan Sale (HVLS) program, which is another disposition option for defaulted FHA notes HUD uses to reduce losses and improve recoveries for FHA’s Mutual Mortgage Insurance Fund. In the HLVS 2022-2 part 1 sale, 703 loans were awarded to qualified mission-driven entities, representing $105.1 million in unpaid principal balance. The audit objective is to assess the extent to which HUD has ensured the achievement of its mission objectives for the HVLS 2022-2 part 1 loan sale.