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

An official website of the United States government Here’s how you know

The .gov means it’s official.

Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

The site is secure.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Hotline

Report Fraud, Waste and Abuse

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.