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HUD OIG is conducting a review of a Missouri-based mortgage lender that originates and underwrites FHA single-family loans. Our objective is to evaluate the lender’s quality control program for originating and underwriting loans.
HUD OIG is conducting a review of an Illinois-based mortgage lender that originates and underwrites FHA single-family loans. Our objective is to evaluate the lender’s quality control program for originating and underwriting loans.
We audited the U.S. Department of Housing and Urban Development’s (HUD) efforts to proactively communicate information related to the coronavirus disease of 2019 (COVID-19) to homeowners with Federal Housing Administration (FHA)-insured mortgages. We initiated this work based on a U.S.
HUD OIG is auditing the Office of Single Family Housing's FHA appraiser roster, which is the list of individuals approved to conduct valuations for FHA-insured properties. HUD’s appraiser roster is the foundation for these valuations and consists of approximately 40,000 different appraiser IDs. The audit objective is to determine whether the appraiser roster is accurate and contains only eligible appraisers.
HUD OIG is auditing the Office of Single Family Housing Federal Housing Administration (FHA) Resource Center. The FHA Resource Center is a valuable and useful tool for consumers that provides answers to consumers' questions or concerns on a variety of topics, including housing discrimination. Our objective is to assess whether the FHA Resource Center appropriately rerouted inquiries related to housing discrimination, including discrimination in appraisals, to HUD’s Office of Fair Housing and Equal Opportunity in accordance with its standard operating procedures.
Develop a control to detect loans that did not maintain the required flood insurance to put $1.5 billion to better use by avoiding potential future costs to the FHA insurance fund from inadequately insured properties.
Corrective Action Taken
HUD OIG is conducting an audit of COVID-19 loss mitigation. In the summer of 2021, FHA introduced new recovery loss mitigation options for borrowers exiting forbearance, which will provide a path to deep and sustained recovery for borrowers who were significantly impacted by the pandemic by reinstating their loans from a delinquent to current status. Our audit objective is to determine if delinquent borrowers of FHA-insured loans received all available options to stay in their homes after forbearance ended.
HUD OIG is conducting a review of a nationwide mortgage servicing company that provides servicing and origination for FHA loans. In the summer of 2021, FHA introduced new recovery loss mitigation options for borrowers exiting forbearance, which will provide a path to deep and sustained recovery for borrowers who were significantly impacted by the pandemic by reinstating their loans from a delinquent to current status.
We audited the U.S.
The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), completed an audit to determine whether FHA-insured borrowers properly received the COVID-19-related forbearance. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, provided a mortgage payment forbearance option for all borrowers who suffered a financial hardship due to the COVID-19 national emergency.
