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Report Fraud, Waste and Abuse
  • Recommendation Number: 2017-KC-0008-001-B
  • Status: Closed
  • Date Issued: September 21, 2017
Closed Date:
July 02, 2019

Develop and implement controls to review issuers to determine the total impact of a large or multiple-issuer default, the maximize-size default Ginnie Mae can adequately execute, and an issuer’s ability to adapt to changing market conditions.

Publication Report

2017-KC-0008 | September 21, 2017

Ginnie Mae Did Not Adequately Respond to Changes in Its Issuer Base

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… more

Related Recommendations

Government National Mortgage Association

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    2017-KC-0008-001-A
    Closed on June 11, 2019

    Develop and implement controls to ensure that policies and procedures for account executives are continually reviewed and updated to reflect changes in Ginnie Mae’s operations.

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    2017-KC-0008-001-C
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    Develop and implement controls to continually assess skills required to meet organizational goals to include a plan to prioritize resources to accommodate changing organizational needs.

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    2017-KC-0008-001-D
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    Develop and implement training programs to ensure that employee skill levels are developed to meet changing organizational needs to include secondary market training.