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.
Due to the evolving situation concerning the coronavirus (COVID-19), the HUD OIG mail operations are suspended and we strongly encourage that you file all inquiries and/or complaints electronically to Whistleblower Report Form, Hotline Complaint Form or FOIA Requests.
FHA Insured at Least $13 Billion in Loans to Ineligible Borrowers With Delinquent Federal Tax Debt
FHA Improperly Paid Partial Claims That Did Not Reinstate Their Related Loans
The U.S.
Bank of America, Plano, TX, Followed the Loss Mitigation Requirements for All of the Loans Reviewed
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Bank of America because it has released more than 47,000 Federal Housing Administration (FHA)-insured loans into the Distressed Asset Stabilization Program (DASP) note sales program.
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.
FHA Insured $1.9 Billion in Loans to Borrowers Barred by Federal Requirements
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited Federal Housing Administration (FHA)-insured loans from calendar year 2016. Our audit objective was to determine whether FHA insured loans to borrowers with delinquent Federal debt or who were subject to Federal administrative offset for delinquent child support.