We audited the U.S.
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HUD Did Not Have Adequate Controls in Place to Track, Monitor, and Issue FHA Refunds Owed to Homeowners
HUD Did Not Always Implement Corrective Actions To Further Ensure That HECM Borrowers Complied With Principal Residency Requirements
The U.S.
FHA Insured at Least $13 Billion in Loans to Ineligible Borrowers With Delinquent Federal Tax Debt
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Federal Housing Administration (FHA)-insured loans from fiscal year 2018. Our audit objective was to determine whether FHA provided insurance on loans that were made to ineligible, delinquent Federal tax debtors.
FHA Improperly Paid Partial Claims That Did Not Reinstate Their Related Loans
The U.S.
Review of Information Systems Controls Over FHA
We audited selected general and application controls over the Federal Housing Administration’s Computerized Homes Underwriting Management System as part of the internal control assessments required for the fiscal year 2018 financial statement audit under the Chief Financial Officer’s Act of 1990.
HUD Paid an Estimated $413 Million for Unnecessary Preforeclosure Claim Interest and Other Costs Due to Lender Servicing Delays
We audited the U.S.
HUD Did Not Adequately Administer Its Housing Counseling Program
We performed a review of the U.S.
HUD Did Not Have Adequate Controls To Ensure That Partial Claim Notes for FHA Loans Were Properly Tracked for Future Collection
We audited the U.S.
HUD Did Not Always Identify and Collect Partial Claims Out of Surplus Proceeds From Nonconveyance Foreclosures
The U.S.
HUD’s DASP Note Sales Generally Resulted in Lower Loss Rates Than Conveyance Claims
The U.S.