| Text of Recommendation | Require lenders to execute indemnification agreements covering a period of at least 5 years for each of the 20 loans for which the lenders did not comply with the temporary endorsement policy and related instructions, including loans for which the lenders did not execute an agreement when required or that were otherwise ineligible for insurance, and properly store the agreements and record the agreement data to put up to $1,811,238 to better use by avoiding potential losses. |
|---|---|
| Recommendation Number | 2023-NY-0002-001-A |
| Recommendation Status | Open |
| Recommendation Questioned Costs | $0 |
| Recommendation Funds for Better Use | $1,811,238 |
| Submitting OIG | |
|---|---|
| Report Title | HUD Can Improve Oversight of Its Temporary Endorsement Policy for Loans in COVID-19 Forbearance |
| Report Submitting OIG-Specific Report Number | 2023-NY-0002 |
| Report Date Issued | Monday, May 15, 2023 |
| Report Questioned Costs | $0 |
| Report Funds for Better Use | $0 |