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Report Fraud, Waste and Abuse
  • Recommendation Number: 2024-NY-0002-001-C
  • Status: Open
  • Date Issued: August 09, 2024

Issue an industry wide letter to reinforce how intake, screening, and enforcement of timeframes will be handled.

Publication Report

2024-NY-0002 | August 09, 2024

HUD Addressed Multifamily Mortgage Application Processing Delays, but Additional Action Is Needed To Manage Future Backlogs

We audited the U.S. Department of Housing and Urban Development (HUD), Office of Multifamily Housing Programs’ efforts to address multifamily mortgage application processing delays.  When applications for these loans are delayed, it slows the… more

Related Recommendations

Housing

  •  
    Status
      Open
      Closed
    2024-NY-0002-001-A

    Require that the PLUS system for receiving, processing, and assigning applications tracks applications and captures application intake, screening, and status, including key dates; captures data on the type of underwriter used; includes a portal for receiving documents and communicating with lenders; and generates FHA loan numbers. This will allow HUD to identify, monitor, and address processing delays and issues on a continuous basis; evaluate its performance and processes; and manage future challenges.

  •  
    Status
      Open
      Closed
    2024-NY-0002-001-B

    Update policies and procedures to include methods that will be used when applications exceed underwriter capacity, align intake and screening processes, and explain when timeframes will be enforced, including in PLUS.