HUD OIG is conducting an audit of Ginnie Mae’s guidance and processes for troubled issuers. Our objective is to assess Ginnie Mae’s guidance and processes for handling troubled issuers.

HUD OIG is auditing Ginnie Mae's response to audit 2016-KC-0002, which reported on uninsured single-family loans remaining in mortgage backed securities (MBS) pools. Loans that lack FHA, VA, or RHS insurance/guarantees are considered defective and issuers must cure the defect, buy them out from MBS pools or substitute them with other loans of the same term.

HUD OIG is conducting an audit of COVID-19 loss mitigation. In the summer of 2021, FHA introduced new recovery loss mitigation options for borrowers exiting forbearance, which will provide a path to deep and sustained recovery for borrowers who were significantly impacted by the pandemic by reinstating their loans from a delinquent to current status. Our audit objective is to determine if delinquent borrowers of FHA-insured loans received all available options to stay in their homes after forbearance ended.

HUD OIG is conducting a review of a nationwide mortgage servicing company that provides servicing and origination for FHA loans. In the summer of 2021, FHA introduced new recovery loss mitigation options for borrowers exiting forbearance, which will provide a path to deep and sustained recovery for borrowers who were significantly impacted by the pandemic by reinstating their loans from a delinquent to current status.

HUD OIG has initiated the annual Ginnie Mae financial statement audit and has contracted with CliftonLarsonAllen LLP (CLA) to conduct the audit. The objectives of CLA’s audit are to (1) express an opinion on whether Ginnie Mae’s fiscal years 2022 and 2021 financial statements are fairly presented and adequately disclosed, in all material respects, in accordance with U.S.

HUD OIG has initiated the annual HUD Consolidated financial statement audit and has contracted with CliftonLarsonAllen LLP (CLA) to conduct the audit. The objectives of CLA’s audit are to (1) express an opinion on whether HUD’s consolidated financial statements are fairly presented and adequately disclosed, in all material respects, in accordance with U.S.

HUD OIG has initiated the annual FHA financial statement audit and has contracted with CliftonLarsonAllen LLP (CLA) to conduct the audit. The objectives of CLA’s audit are to (1) express an opinion on whether FHA’s fiscal years 2022 and 2021 financial statements are fairly presented and adequately disclosed, in all material respects, in accordance with U.S.

HUD OIG is conducting an audit to assess HUD’s overall fraud risk management program, and to identify fraud risks for funds that HUD received from the Coronavirus Aid Recovery and Economic Stability Act and American Rescue Plan Act.

HUD OIG is reviewing GNMA’s financial crisis readiness program. To ensure its mission, GNMA must be prepared for a broad range of crises, including financial crises, that could impact itself or its issuers. Our objective is to determine whether GNMA implemented a financial crisis readiness program that met industry best practices.

HUD OIG is conducting an audit of HUD’s compliance with the Payment Integrity Information Act of 2019 (PIIA).  HUD is required to review all programs and activities they administer that may be susceptible to significant improper payments and publish payment integrity information in its Annual Financial Report (AFR) in accordance with OMB guidance.  Our objectives are to assess (1) whether HUD has met all requirements of PIIA and OMB Circular A-123, Appendix C-Requirements for Payment Integrity Improvement and (2) HUD’s efforts to prevent and reduce improper payments.