Develop and implement written policies and procedures with an emphasis on increased controls toward the monitoring, tracking, underwriting, and evaluating of the Section 184 program. Implementing these controls would reduce the current high level of risk in the program and result in potentially $76,967,618 in funds to be put to better use (see appendix A).
Publication Report
2015-LA-0002 | July 06, 2015
HUD Did Not Provide Adequate Oversight of the Section 184 Indian Home Loan Guarantee Program
We audited the Section 184 Indian Home Loan Guarantee program based on the U.S. Department Housing and Urban Development (HUD), Office of Inspector General’s (OIG) research, analysis, and information provided by the Office of Investigation, detailing… moreRelated Recommendations
Public and Indian Housing
- Status2015-LA-0002-001-BOpenClosed
Develop and implement policies and procedures for a standardized monthly delinquency report format that lenders must follow when submitting information to OLG.
- Status2015-LA-0002-001-COpenClosed
Develop and implement policies and procedures to deny payments to direct guarantee lenders for claims on loans that have material underwriting deficiencies.
- Status2015-LA-0002-001-DOpenClosed
Develop and implement policies and procedures to ensure that OLG uses enforcement actions available under 12 U.S.C. 1715z-3a(g) for lenders that do not underwrite loans according to the Section 184 processing guidelines.
- Status2015-LA-0002-001-HOpenClosed
Ensure that only underwriters that are approved by OLG are underwriting Section 184 loans.
- Status2015-LA-0002-001-IOpenClosed
Develop and implement written policies and procedures for situations in which the borrower for a Section 184 loan is an Indian housing authority, a tribally designated housing entity, or an Indian tribe.
- Status2015-LA-0002-001-JOpenClosed
Reconcile the total list of guaranteed Section 184 loans to the complete loan file storage list and identify and locate any missing loan files.