| Text of Recommendation | Require lenders to obtain a borrower certification that details their participation in an HFA downpayment assistance program, including relevant details of the specific program (for example, impact on interest rate, mortgage payments, fees, equity, acknowledgement of other less costly loan products, etc.). |
|---|---|
| Recommendation Number | 2017-LA-0003-001-D |
| 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 |