Title | Announced | Priority Area | Program Area | State |
---|---|---|---|---|
HECM Corrective Action Verification Review
Published Report(s)
|
07/2020 | Protecting the Mortgage Insurance Funds | Housing | All |
Summary
HUD OIG is reviewing HUD's corrective actions in response to four specific recommendations made in audit reports 2012-PH-0004, 2013-PH-0002, 2014-PH-0001, and 2015-PH-0004. Our prior audits showed that HUD’s controls did not always ensure that HECM loan borrowers complied with program residency requirements. The audits included a recommendation to prevent and mitigate instances of borrowers violating the principal residency requirements. The objective of our audit is to determine whether HUD's actions to address the recommendations were adequate.