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HUD Did Not Always Address Risks Reported in Borrowers’ Audited Financial Statements for Section 232 Residential Care Facility Portfolios
Develop and implement policies and procedures to ensure that borrowers and lenders execute action plans that properly list all specific risks at a property, identify the root causes of each risk, specify the actions to address each root cause, and establish a timetable to complete each action.
Open Recommendation
HUD Did Not Always Address Risks Reported in Borrowers’ Audited Financial Statements for Section 232 Residential Care Facility Portfolios
Develop and implement policies and procedures to ensure that HUD Account Executives document each action plan, properly list all specific risks at a property, identify the root causes of these risks, specify the actions to address the root causes, establish the timetables for completion, and Read More
Open Recommendation
HUD Did Not Always Address Risks Reported in Borrowers’ Audited Financial Statements for Section 232 Residential Care Facility Portfolios
Develop and implement policies and procedures for a course of action when borrowers and/or lenders do not timely develop action plans. These policies and procedures should include civil money penalties, flagging the borrower in APPS, and inclusion in the Excluded Parties List System.
Open Recommendation
HUD Did Not Always Address Risks Reported in Borrowers’ Audited Financial Statements for Section 232 Residential Care Facility Portfolios
Update the protocols to ensure that all HUD ORCF teams working with any subset of the portfolio have insight into the entire portfolio for any portfolio split amongst lenders.
Open Recommendation
Ginnie Mae Did Not Formally Assess Rising Nonbank Concentration Risk
Perform an assessment of concentration risk and take appropriate action based on the results.
Open Recommendation
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices Are At or Below The Lowest Desired Level
Develop and implement a fraud risk management program with an emphasis on obtaining high-level management buy-in to ensure commitment from the board and senior management and subsequently, to ensure involvement of all levels of the program in setting an anti-fraud culture and tone to effectively Read More
Open Recommendation
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices Are At or Below The Lowest Desired Level
Establish a dedicated anti-fraud component to design and oversee risk management activities within the organization and its subrecipients.
Open Recommendation
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices Are At or Below The Lowest Desired Level
Implement fraud risk assessment processes tailored to all levels of the program to identify and assess risks to determine VIHFA’s disaster recovery and mitigation program’s risk profile.
Open Recommendation
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices Are At or Below The Lowest Desired Level
Evaluate its program’s fraud risk profile and fraud risk assessment outcomes to (1) design risk responses and specific actions for responding to fraud, and (2) develop, document, and communicate an anti-fraud strategy for employees and stakeholders that contain all key elements described in GAO’s “ Read More
Open Recommendation
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices Are At or Below The Lowest Desired Level
Implement fraud awareness initiatives, such as official anti-fraud training for staff and stakeholders, including subrecipients. This could include developing frequent formal communication containing newsletters or bulletins and post physical visual displays to ensure staff’s fraud awareness when Read More
Open Recommendation
The U.S. Virgin Islands Housing Finance Authority’s Fraud Risk Management Practices Are At or Below The Lowest Desired Level
Upon completion of recommendations 1A – 1E, assess whether VIHFA has established and implemented mature fraud risk management practices within its disaster recovery and mitigation programs.
Open Recommendation
California Department of Housing and Community Development Needed Stronger Controls to Prevent Improper Payments in Its ESG CARES Act Program|
Repay ineligible landlord holding fees of $964,952 drawn from ESG CARES Act funds to HUD from non-federal funds.
Open Recommendation
California Department of Housing and Community Development Needed Stronger Controls to Prevent Improper Payments in Its ESG CARES Act Program|
Determine if the $58,878 drawn for 18 signing bonuses or additional security deposits from ESG CARES Act funds were reasonable under the program participant’s particular circumstances, and not more than necessary to house the program participants or repay HUD from non-federal funds.
Open Recommendation
California Department of Housing and Community Development Needed Stronger Controls to Prevent Improper Payments in Its ESG CARES Act Program|
Repay risk mitigation overpayments of $6,549 drawn from ESG CARES Act funds to HUD from non-federal funds.
Open Recommendation
California Department of Housing and Community Development Needed Stronger Controls to Prevent Improper Payments in Its ESG CARES Act Program|
Determine if the remaining risk mitigation expenses of $185,731 drawn from ESG CARES Act funds were reasonable and necessary in accordance with program requirements or repay HUD from non-federal funds.
Open Recommendation
California Department of Housing and Community Development Needed Stronger Controls to Prevent Improper Payments in Its ESG CARES Act Program|
Support the cost reasonableness of $96,561 drawn from ESG CARES Act funds for the kitchen services contractor or repay HUD from non-federal funds.
Open Recommendation
California Department of Housing and Community Development Needed Stronger Controls to Prevent Improper Payments in Its ESG CARES Act Program|
Develop and implement additional written procedures and internal controls for the annual ESG program to ensure that it, and its subrecipients, do not charge holding fees and risk mitigation costs as expenses to the program, and that contracts are properly executed and maintained.
Open Recommendation
The City and County of Honolulu Made Some Improper Payments in its ESG CARES Act Program
Determine whether the $714,512 paid for 233 signing bonuses under the ESG CARES Act program were reasonable under the program participant’s particular circumstances, and not more than necessary to house the program participants or repay HUD from non-Federal funds.
Open Recommendation
The City and County of Honolulu Made Some Improper Payments in its ESG CARES Act Program
Develop and implement written policies and procedures that include internal controls for the ESG program to ensure that it, and its subrecipients, prorate the rent amount for the first month for tenant-based rental assistance. Since the City did not prorate rent, there was an estimated overpayment Read More
Open Recommendation
The City and County of Honolulu Made Some Improper Payments in its ESG CARES Act Program
Repay HUD from non-Federal funds $51,235 in overpaid rent to landlords because the first month of rent was not prorated.
Open Recommendation