This disaster recovery biannual report and subsequent annual reports will provide curated information regarding the U.S. Department of Housing and Urban Development (HUD) and its grantees’ use of the more than $109 billion in disaster recovery funds approved by Congress since the 2001 World Trade Center attack, as well as information on new or completed HUD OIG oversight work related to HUD’s disaster recovery program.  HUD’s grantees use…

We identified gaps in Ginnie Mae’s guidance and process for troubled issuers.  Ginnie Mae made progress in developing an issuer default governance framework, but has not (1) defined its authorities for marketing troubled portfolios; (2) formalized guidance for how to identify potential buyers before extinguishment; (3) established expectations for determining portfolio value, price before sale, and evaluation against other options or (4)…