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Report Fraud, Waste and Abuse
  • Recommendation Number: 2023-KC-0001-001-B
  • Status: Closed
  • Date Issued: December 05, 2022
Closed Date:
October 29, 2024

Ensure that all necessary information regarding terminated VA loans is included in the matching process.

Publication Report

2023-KC-0001 | December 05, 2022

Ginnie Mae Did Not Ensure That All Pooled Loans Had Agency Insurance

We performed a corrective action verification review of the actions taken by the Government National Mortgage Association (Ginnie Mae) to implement the recommendations cited in Audit Report 2016-KC-0002, issued September 21, 2016. The HUD Handbook places… more

Related Recommendations

Government National Mortgage Association

  •  
    Status
      Open
      Closed
    2023-KC-0001-001-A
    Closed on October 31, 2023
    $903,085,334.00
    Funds Put to Better Use

    Recommendations that funds be put to better use estimate funds that could be used more efficiently. For example, recommendations that funds be put to better use could result in reductions in spending, deobligation of funds, or avoidance of unnecessary spending.

    Update and synchronize the SOP and the matching procedure. The updates should include notifications that provide issuers with unmatched loans adequate time to take corrective action to comply with the requirements of the MBS Guide to put $903 million to better use by ensuring that the appropriate agency insurance or guarantee is in place.