| Text of Recommendation | Develop specific requirements and guidance for lenders to review HFA downpayment assistance programs (for example, interest rates, fees, borrower certifications, lender reviews, impact to borrower, related agreements, etc.). Requirements and guidance should include evaluating the structure of downpayment assistance programs, including whether the programs' structure and funding mechanisms comply with all HUD requirements and guidelines. |
|---|---|
| Recommendation Number | 2017-LA-0003-001-C |
| Recommendation Status | Open |
| Recommendation Questioned Costs | $0 |
| Recommendation Funds for Better Use | $0 |
| Submitting OIG | |
|---|---|
| Report Title | HUD Failed To Adequately Oversee FHA-Insured Loans With Borrower-Financed Downpayment Assistance |
| Report Submitting OIG-Specific Report Number | 2017-LA-0003 |
| Report Date Issued | Thursday, March 2, 2017 |
| Report Questioned Costs | $0 |
| Report Funds for Better Use | $0 |