The Offices of Audit and Evaluation supervise and conduct independent and objective audits, evaluations, and other reviews of U.S. Department of Housing and Urban Development (HUD) programs and activities to ensure they operate economically, efficiently, and effectively. This page contains links to our audit and evaluation reports and memoranda.
We performed an audit examining HUD’s efforts to prevent duplication of benefits when using Community Development Block Grant (CDBG) Disaster Recovery and Mitigation funds. Our objective was to determine how the U.S. Department of Housing and Urban Development (HUD) assesses the adequacy of grantee procedures to prevent a duplication of benefits, both before and after grant execution.
HUD certified grantees’ high-level…
October 24, 2023
Report
#2024-FW-0001
We identified gaps in Ginnie Mae’s guidance and process for troubled issuers. Ginnie Mae made progress in developing an issuer default governance framework, but has not (1) defined its authorities for marketing troubled portfolios; (2) formalized guidance for how to identify potential buyers before extinguishment; (3) established expectations for determining portfolio value, price before sale, and evaluation against other…
March 28, 2023
Report
#2023-KC-0003
Ginnie Mae generally followed Federal guidance in precrisis planning and executed its crisis management strategy with respect to the COVID-19 pandemic. However, it does not have an agencywide crisis readiness plan, addressing likely hazards arising from a crisis, or include all key elements in line with crisis guidance from CIGFO.
March 28, 2023
Report
#2023-KC-0004
We performed a corrective action verification review of the actions taken by the Government National Mortgage Association (Ginnie Mae) to implement the recommendations cited in Audit Report 2016-KC-0002, issued September 21, 2016. The HUD Handbook places the responsibility on HUD’s Office of Inspector General to perform selected corrective action verifications of significant audit recommendations when final actions have been completed…
December 05, 2022
Report
#2023-KC-0001
We contracted with the independent public accounting firm of CliftonLarsonAllen LLP (CLA) to audit the financial statements of Ginnie Mae as of and for the fiscal years ended September 30, 2022 and 2021, and to provide reports on Ginnie Mae’s 1) internal control over financial reporting; and 2) compliance with laws, regulations, contracts, and grant agreements and other matters. Our contract with CLA required that the audit be…
November 14, 2022
Report
#2023-FO-0002
The Chief Financial Officers Act of 1990 (Public Law 101-576), as amended, requires the Office of Inspector General to audit the financial statements of the Government National Mortgage Association (Ginnie Mae) annually. Attached are the U.S. Department of Housing and Urban Development (HUD), Office of Inspector General’s (OIG) results of the audit of Ginnie Mae fiscal years 2021 and 2020 financial statements and reports on internal…
November 16, 2021
Report
#2022-FO-0002
This report presents the results of our audit of Ginnie Mae’s fiscal year 2020 financial statements, including our report on Ginnie Mae’s internal control and test of compliance with selected provisions of laws, regulations, and contracts applicable to Ginnie Mae. In fiscal year 2020, we were able to obtain sufficient, appropriate evidence to express an unmodified opinion on the fairness of Ginnie Mae’s financial statements. We…
November 16, 2020
Report
#2021-FO-0002
We audited the effectiveness of selected business process application-level general controls and data management controls over the Government National Mortgage Association (Ginnie Mae) Financial Accounting System (GFAS) and its subledger database (SLDB) component as part of the internal control assessments required for the fiscal year 2019 financial statements audit under the Chief Financial Officer’s Act of 1990. We also assessed…
September 18, 2020
Report
#2020-DP-0001
This report presents the results of our audit of Ginnie Mae’s fiscal year 2019 financial statements, including our report on Ginnie Mae’s internal control and test of compliance with selected provisions of laws, regulations, and contracts applicable to Ginnie Mae.
In fiscal year 2019, we were unable to obtain sufficient, appropriate evidence to express an opinion on the fairness of Ginnie Mae’s financial statements. …
February 07, 2020
Report
#2020-FO-0002
We audited the general controls over the Integrated Pool Management System (IPMS) as part of the internal control assessments required for the fiscal year 2018 financial statements audit under the Chief Financial Officer’s Act of 1990. Our objective was to evaluate and assess internal controls over the safeguarding of data, security, and continued operations in the event of unexpected interruptions. Specifically, we…
December 20, 2018
Report
#2019-DP-0001
This report presents the results of our audit of Ginnie Mae’s fiscal years 2018 and 2017 financial statements, including our report on Ginnie Mae’s internal control and test of compliance with selected provisions of laws and regulations applicable to Ginnie Mae. In fiscal year 2018, for the fifth consecutive year, we were unable to obtain sufficient, appropriate evidence to express an opinion on the fairness of the $3 billion (net of…
November 12, 2018
Report
#2019-FO-0001
We audited general and application controls over the Ginnie Mae Financial Accounting System (GFAS) as part of the internal control assessments required for the fiscal year 2017 financial statements audit under the Chief Financial Officer’s Act of 1990. Our objective was to review internal controls over the security, integrity, confidentiality, and availability of the data maintained in GFAS. We also reviewed the functionality…
December 13, 2017
Report
#2018-DP-0001
HUD has a contract with Leidos Innovations Corporation for E-Discovery services using the E-Discovery Management System. The process for collecting electronically stored information (ESI) and delivering it to customers has two major subprocesses: (1) an initial ESI collection and (2) a keyword search to refine the initial collection results. OGC’s and Leidos’ collection of ESI does not meet customer demand because…
December 05, 2017
Report
#2017-OE-0008
The U.S. Department of Housing and Urban Development, Office of Inspector General audited Ginnie Mae’s oversight of nonbanks due to the growth of nonbank issuers in the mortgage servicing industry. Our objective was to determine whether Ginnie Mae responded adequately to changes in its issuer base.
We found that Ginnie Mae did not adequately respond to changes in its issuer base. Specifically, it did not implement policies…
September 20, 2017
Report
#2017-KC-0008
Very low REAC scores are not prevalent across ORCF’s portfolio. The majority of RCFs that received a REAC score scored at least 80 on their last inspection, and more than three quarters scored at least 60. Despite the small percentage of RCFs that scored below 31, we noticed an overall decline in REAC inspection scores across ORCF’s portfolio from 2000 to 2016.
REAC has adopted an inspection process that applies uniformly…
September 14, 2017
Report
#2017-OE-0011
In accordance with the Chief Financial Officers Act of 1990, as amended, we are required to annually audit the consolidated financial statements of the U.S. Department of Housing and Urban Development (HUD). HUD reissued its fiscal year 2016 and 2015 (Restated) consolidated financial statements due to pervasive material errors that were identified by us. Our objective was to express an opinion on the fairness of HUD’s…
February 27, 2017
Report
#2017-FO-0005
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), reviewed preforeclosure sales under the Federal Housing Administration (FHA) program in the St. Louis, MO, area. We found that the purchaser of a property being sold in a preforeclosure sale entered into a consulting agreement with the realtor. The agreement required that when the purchaser later sold the property, he would pay…
February 21, 2017
Memorandum
#2017-KC-1801
This page previously contained our independent auditor’s report on HUD’s fiscal year 2016 and 2015 (Restated) consolidated financial statements (OIG Audit Report 2017-FO-0004), issued November 15, 2016. In the report, one basis for our disclaimer of opinion was that HUD was unable to provide final consolidated financial statements and accompanying notes in a timeframe that would allow us to obtain sufficient, appropriate…
November 16, 2016
Report
#2017-FO-0004
This report presents the results of our audit of Ginnie Mae’s fiscal years 2016 and 2015 (restated) financial statements, including our report on Ginnie Mae’s internal control and test of compliance with selected provisions of laws and regulations applicable to Ginnie Mae.
For the third consecutive year, in fiscal year 2016, we were unable to obtain sufficient, appropriate evidence to express an opinion on the fairness of the $…
November 12, 2016
Report
#2017-FO-0001
The U.S. Department of Housing Urban Development (HUD), Office of Inspector General audited the Government National Mortgage Association’s (Ginnie Mae) process for identifying and removing uninsured single-family Federal Housing Administration loans from mortgage-backed securities (MBS) pools. Our audit objective was to determine whether loans remained in Ginnie Mae MBS pools for 1 year or longer without the required mortgage…
September 20, 2016
Report
#2016-KC-0002