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Require the transaction specialist contractor to change its application review process to prevent incomplete applications from being considered during vacant loan sales and that recommendations to approve applications are supported by written analysis.

Publication Report

2024-KC-0001 | April 18, 2024

HUD Can Improve Its Loan Purchaser Qualification Vetting To Better Achieve Its Mission Objectives

We audited the Federal Housing Administration (FHA), Office of Asset Sales’ U.S. Department of Housing and Urban Development (HUD)-Held Vacant Loan Sales (HVLS) program.  The audit objective was to assess the extent to which HUD achieved its mission… more

Related Recommendations

Housing

  • Implement improved verification checks to prevent participation of restricted entities.

  • Implement an improved process to review and update program controls before each sale to achieve its mission objectives.