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Audit of the Government National Mortgage Association’s Financial Statements for Fiscal Years 2014 and 2013

This report presents the results of our fiscal year 2014 audit of Ginnie Mae’s financial statements, including our report on Ginnie Mae’s internal control and test of compliance with selected provisions of laws and regulations applicable to Ginnie Mae.  We contracted with the independent certified public accounting firm of CliftonLarsonAllen LLP to audit Ginnie Mae’s fiscal year 2013 financial statements.  CliftonLarsonAllen was responsible for its audit reports and the conclusions expressed on those reports. In regards to the fiscal year 2014 audit, we were unable to

Audit of the Federal Housing Administration’s Financial Statements for Fiscal Years 2013 and 2012

In accordance with the Government Corporation Control Act as amended (31 U.S.C. 9105), the Office of Inspector General engaged the independent certified public accounting firm of CliftonLarsonAllen LLP (CLA) to audit the fiscal years 2013 and 2012 financial statements of the Federal Housing Administration (FHA). The contract required that the audit be performed according to Generally Accepted Government Auditing Standards (GAGAS). CLA is responsible for the attached auditors’ report dated December 9, 2013 and the conclusions expressed in the report.

Audit of Government National Mortgage Association’s (Ginnie Mae) Financial Statement for Fiscal Years 2013 and 2012

In accordance with the Government Corporation Control Act as amended (31 U.S.C. 9105), the Office of Inspector General engaged the independent certified public accounting firm of CliftonLarsonAllen LLP (CLA) to audit the fiscal years 2013 and 2012 financial statements of the Government National Mortgage Association (Ginnie Mae). The contract required that the audit be performed according to Generally Accepted Government Auditing Standards (GAGAS). CLA is responsible for the attached auditors’ report dated November 25, 2013 and the conclusions expressed in the report.

HUD Did Not Always Adequately Monitor Enforcement Grants Awarded Through Its Fair Housing Initiatives Program

We audited the U.S. Department of Housing and Urban Development’s (HUD) oversight of Private Enforcement Initiative grants awarded under its Fair Housing Initiatives program as part of our annual audit plan. Our objective was to determine whether HUD performed monitoring to ensure that enforcement grant funds were spent in compliance with grant terms and program requirements. HUD monitoring generally covered procedures required to ensure that grantees complied with grant terms and program requirements.

Mortgage-Backed Securities Program Document Review (Report Not Available to the Public)

We completed a review of Government National Mortgage Association (Ginnie Mae) Mortgage-Backed Securities (MBS) program's contract documents and other program related representations. Additionally, we reviewed certain business practices related to ensuring that mortgages were insured. We conducted the audit because of OIG senior management's concerns about potential internal control weaknesses in Ginnie Mae's MBS program.

Weaknesses in the Office of Fair Housing and Equal Opportunity's 2007 Award Process for the Fair Housing Initiative Program, National-Based Media Campaign

We performed a limited scope audit of the Office of Fair Housing and Equal Opportunity to determine whether the Office complied with the requirements of 42 U.S.C. (United States Code) Chapter 45, Subpart I, Section, 3616a(d), entitled Fair Housing Intiatives Program, Education and Outreach, when it published the 2007 Fair Housing Initiatives Program notice of funding availability.