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Review the non-life-threatening health and safety and other deficiencies observed by the audit team and ensure that property owners and agents make the necessary corrections to the deficiencies as appropriate.
Enhance existing demonstration guidance within the Conveyance, Assignment, and Assumption Agreement to provide further detail regarding documentation retention requirements.
Enhance data collection and processing controls to ensure consistency in reporting data.
Update the Conveyance, Assignment, and Assumption Agreement to require purchasers to report final property outcomes and identifying information including those of third-party purchasers when applicable.
HUD’s Office of Housing contracts with performance-based contract administrators to administer the housing assistance payments (HAP) contract with owners. Through RAD, HUD oversees the HAP contracts for converted properties and monitors owners for compliance with HUD’s requirements, which include maintaining (1) units in decent, safe, and sanitary condition and (2) reserve for replacement accounts to help defray the cost of replacing properties’ capital items.We found HUD needs to improve its oversight of the physical condition of public housing units that converted to PB
Update selection rules for CAIVRS to provide for complete reporting of all ineligible borrowers to put $9.5 million to better use.
Status
We audited the Federal Housing Administration (FHA), Office of Asset Sales’ U.S. Department of Housing and Urban Development (HUD)‐Held Vacant Loan Sales (HVLS) program. The audit objective was to assess the extent to which HUD tracks and measures its loan sales’ program success and its achievement of mission outcomes as they relate to the Affordable Housing Action Plan. HUD did not have adequate information to measure its loan sales’ program success as it relates to the affordable housing initiatives.
HUD OIG is auditing HUD's efforts to increase the supply of affordable housing. To increase the affordable housing supply, HUD's Office of Single Family expanded the exclusive listing period to 30 days to increase the time owner-occupants, HUD-approved nonprofits, and governmental entities can view and bid on properties without competing with investor purchasers.
We contracted with the independent public accounting firm of Sikich CPA LLC to audit the financial statements of FHA as of and for the fiscal years ending September 30, 2024 and 2023, and to provide reports on FHA’s (1) internal control over financial reporting and (2) compliance with laws, regulations, contracts, and grant agreements and other matters. Our contract with Sikich required that the audit be performed in accordance with U.S.
HUD OIG is auditing HUD's oversight of Section 232 nursing home portfolios. HUD's Office of Residential Care Facilities is responsible for administering the Section 232 mortgage insurance program which insures more than 3,600 loans, with an unpaid principal balance of more than $32 billion. Our audit objective is to assess the extent to which HUD's Office of Residential Care Facilities identifies and mitigates risks in Section 232 nursing home portfolios.
