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Key Considerations and Lessons Learned From Prior Audits of the Single Family Default Monitoring System

Title Announced Priority Area Program Area State
Key Considerations and Lessons Learned From Prior Audits of the Single Family Default Monitoring System
Published Report(s)
06/2020 Protecting the Mortgage Insurance Funds Housing and FHA All

Summary

HUD OIG is researching prior audits of HUD’s Single Family Default Monitoring System to provide HUD information regarding lessons learned and risks identified in these prior audits.  The forbearances will result in increased claims filed against the insurance fund.  The lessons learned from prior audits identify what actions HUD should take now to ensure program integrity and mitigate the risk of financial loss for COVID-19 related forbearance assistance and foreclosure moratorium related to single family loans.