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Date Issued
Submitting OIG
Department of Housing and Urban Development OIG
Agencies Reviewed/Investigated
Department of Housing and Urban Development
Report Number
2015-LA-0002
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
0
Questioned Costs
$0
Funds for Better Use
$0
Hide this report from display
Yes

Open Recommendations

This report has 7 open recommendations.
Recommendation Number Significant Recommendation Recommended Questioned Costs Recommended Funds for Better Use Additional Details
2015-LA-0002-001-A No $0 $76,967,618

Develop and implement written policies and procedures with an emphasis on increased controls toward the monitoring, tracking, underwriting, and evaluating of the Section 184 program. Implementing these controls would reduce the current high level of risk in the program and result in potentially $76,967,618 in funds to be put to better use (see appendix A).

2015-LA-0002-001-B No $0 $0

Develop and implement policies and procedures for a standardized monthly delinquency report format that lenders must follow when submitting information to OLG.

2015-LA-0002-001-C No $0 $0

Develop and implement policies and procedures to deny payments to direct guarantee lenders for claims on loans that have material underwriting deficiencies.

2015-LA-0002-001-D No $0 $0

Develop and implement policies and procedures to ensure that OLG uses enforcement actions available under 12 U.S.C. 1715z-3a(g) for lenders that do not underwrite loans according to the Section 184 processing guidelines.

2015-LA-0002-001-H No $0 $0

Ensure that only underwriters that are approved by OLG are underwriting Section 184 loans.

2015-LA-0002-001-I No $0 $0

Develop and implement written policies and procedures for situations in which the borrower for a Section 184 loan is an Indian housing authority, a tribally designated housing entity, or an Indian tribe.

2015-LA-0002-001-J No $0 $0

Reconcile the total list of guaranteed Section 184 loans to the complete loan file storage list and identify and locate any missing loan files.

Department of Housing and Urban Development OIG

United States