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Title Announced Priority Area Program Area State
FHA's Home Equity Reverse Mortgage Information Technology System
Published Report(s)
04/2019 Financial Management Ginnie Mae All

Summary

HUD OIG is auditing the Federal Housing Administration’s (FHA) Home Equity Reverse Mortgage Information Technology (HERMIT) system as part of the internal control assessments required for the fiscal year 2019 financial statement audit under the Chief Financial Officer’s Act of 1990.  HERMIT provides an end-to-end solution (loan origination to disposition) on the Home Equity Conversion Mortgage (HECM) case-processing activities and assists FHA in efficiently managing the HECM portfolio.  The audit objective is to review selected general and application controls over the HERMIT system in HUD’s computing environment for compliance with HUD IT policies and Federal information system security and financial management requirements.