Approximately 31,500 FHA-Insured Loans Did Not Maintain the Required Flood Insurance Coverage in 2020
The U.S. Department of Housing and Urban Development, Office of Inspector General, has completed its audit of Federal Housing Administration (FHA)-insured loans serviced in calendar year 2020. Our audit objective was to determine whether borrowers of FHA-insured loans maintained proper flood insurance coverage. We found FHA insured at least 31,500 loans serviced during calendar year 2020 for properties in SFHA flood zones that did…
March 22, 2022
Report
#2022-KC-0002
HUD Did Not Always Implement Corrective Actions To Further Ensure That HECM Borrowers Complied With Principal Residency Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), completed a corrective action verification (CAV) of recommendations from four prior home equity conversion mortgage (HECM) audit reports. The CAV was initiated because protecting the Federal Housing Administration (FHA) mutual mortgage insurance fund is one of HUD’s top management challenges. The prior audits determined that HUD lacked…
December 10, 2021
Report
#2022-PH-0801
Delays in Federal Housing Administration Catalyst’s Development
In February 2021, the Office of the Chief Information Officer (OCIO) identified funding risks with the development contract under which HUD contracted for Federal Housing Administration (FHA) Catalyst’s development. In response, HUD officials took steps to slow FHA Catalyst spending on the contract while awaiting approval for additional contract funds. Despite efforts to slow project spending, it was not enough to prevent funding…
November 17, 2021
Memorandum
#2021-OE-0003a
Federal Housing Administration
Testimony of the Honorable David A. Montoya Inspector General before the United States Senate Committee on Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies on the Federal Housing Administration (6/04/2013)
June 04, 2013
Hearing