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Date Issued
Diciembre 15, 2021
Closed Date
Septiembre 14, 2022
OIG Component Office
Ensure that the issues found during our audit are incorporated into QAD’s servicing monitoring reviews.
Program Office
Questioned Costs
Better Funds Use
Publication Report Number

Related Recommendations

Recomendation Status Date Issued Summary
2022-KC-0001-001-A Cerrado Diciembre 15, 2021 Perform data analysis of FHA’s portfolio to identify borrowers who are delinquent and did not fully benefit from the COVID-19 forbearance, including those in bankruptcy;
2022-KC-0001-001-B Cerrado Diciembre 15, 2021 Develop a standardized brochure or informational pamphlet that would inform delinquent borrowers of their right to a forbearance under the CARES Act; and
2022-KC-0001-001-C Cerrado Diciembre 15, 2021 Ensure that this information is distributed to delinquent borrowers so it can benefit the greatest number of borrowers to put $5.43 billion to better use by avoiding potential future losses on 112,160 loans.
2022-KC-0001-002-A Cerrado Diciembre 15, 2021 Review the 21 loans with improperly administered forbearance to ensure that the borrowers were remedied by the servicers, if possible, and ensure that these servicers updated their forbearance procedures to prevent future noncompliance.
2022-KC-0001-002-C Cerrado Diciembre 15, 2021 Provide additional guidance to the servicers so they will limit their communication and collection efforts for the borrowers in forbearance.