Review FHA’s existing model coding for single-family, HECM, and multifamily models and make necessary changes to make them consistent with industry’s best practices in model coding. At a minimum, FHA should implement actions to address model coding deficiencies cited in our report.
2018-FO-0003 | Febrero 12, 2018
Audit of the Federal Housing Administration’s Financial Statements for Fiscal Years 2017 and 2016 (Restated)
Housing
- Status2018-FO-0003-001-COpenClosed
2017-CF-1804 | Agosto 21, 2017
Final Civil Action: Financial Freedom, a Division of CIT Bank, N.A., Settled Allegations of Failing To Comply With HUD’s Federal Housing Administration Servicing Requirements for HECM Claims
General Counsel
- Status2017-CF-1804-001-AOpenClosed$41,000,000Questioned Costs
Recommendations with questioned costs identify costs: (A) resulting from an alleged violation of a law, regulation, contract, grant, or other document or agreement governing the use of Federal funds; (B) that are not supported by adequate documentation (also known as an unsupported cost); or (C) that appear unnecessary or unreasonable.
Acknowledge that $41 million of the $89,274,944 in the attached settlement represents an amount due HUD, less DOJ’s civil debt collection fees.