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.
Ginnie Mae Did Not Formally Assess Rising Nonbank Concentration Risk
We audited the Government National Mortgage Association’s (Ginnie Mae) management of its portfolio of federally guaranteed mortgage-backed securities (MBS). We initiated this audit because of our internal monitoring of the Ginnie Mae portfolio as well as the issuance of a Financial Stability Oversight Council report in 2024 on the rising risks presented by nonbank mortgage companies. Our audit objective was to assess Ginnie…
March 30, 2026
Report
#2026-KC-0002
The Bay City Housing Authority, Bay City, TX, Did Not Follow Requirements for Its Legal Services Contract, Administrative Costs, and Board Meetings
Based on a complaint and a request from the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing (HUD PIH), we audited the Bay City Housing Authority, Bay City, TX. The complainant’s allegations included improper procurement of an attorney and board meetings held without proper notice. HUD PIH expressed concerns regarding the Authority’s financial records and policy adherence. Our…
September 29, 2021
Report
#2021-FW-1003