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The U.S. Department of Housing and Urban Development's (HUD) Office of the Inspector General reviewed HUD's Front End risk Assessment (FERA) for the Capital Fund Formula and Competitive Grant Programs funded under the American Recovery and Reinvestment Act of 2009 (Recovery Act). Our objectives were to determine whether HUD’s front-end risk assessment of the programs complied with the Office of Management and Budget (OMB) guidance for implementing the Recovery Act, and whether HUD’s risk mitigation activities were adequate in relation to the assessed level of risk. HUD’s final Front End Risk Assessments for the Capital Fund Competitive and Formula Grant Programs were in general compliance with the Office of Management and Budget guidance. The risk mitigation activities in the final FERAs were adequate in relation to the assessed level of risk and OIG concerns regarding specific risk factors contained in the initial draft FERAs had been adequately addressed. As a result, there are no recommendations.