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Huntington Apartments Was Not Properly Managed in Accordance with HUD Requirements or Its Regulatory Agreement

Submitted by KHall2023 on

We audited Huntington Apartments’ management of its multifamily property as part of our annual work plan.  The owner of Huntington Apartments manages 204 units in accordance with HUD requirements and its regulatory agreement which includes restrictions on the use of property funds and assets.  We selected Huntington Apartments for an audit based on risk indicators, such as surplus cash deficiencies, missed or late mortgage payments, failure to maintain the property, and HUD’s risk rating.  Our audit objective was to determine whether the owner managed Huntington Apartments in

Solis Gardens Apartments Was Not Properly Managed in Accordance with HUD Requirements or Its Regulatory Agreement

Submitted by Admin-Ian on

We audited Solis Gardens Apartments’ management of its HUD-insured Section 207/223(f) multifamily property as part of our annual work plan.  The owner of Solis Garden Apartments manages 62 units in accordance with HUD requirements and its regulatory agreement which includes restrictions on the use of project funds and assets.  We selected Solis Gardens Apartments for an audit based on risk indicators, such as surplus cash deficiencies, missed or late mortgage payments, HUD’s risk rating, and the absence of any HUD Management and Occupancy reviews.

HUD Addressed Multifamily Mortgage Application Processing Delays, but Additional Action Is Needed To Manage Future Backlogs

Submitted by system on
We audited the U.S. Department of Housing and Urban Development (HUD), Office of Multifamily Housing Programs’ efforts to address multifamily mortgage application processing delays.  When applications for these loans are delayed, it slows the production and availability of affordable multifamily housing units.  During the COVID-19 pandemic, HUD took action to eliminate a backlog of over 500 applications waiting to be assigned to underwriters for review.

HUD's Office of Multifamily Housing Monitoring of Civil Rights Compliance

HUD OIG is auditing the Office of Multifamily Housing's monitoring of civil rights compliance.  Fair housing and civil rights are critical in making sure all Americans have equal access to the housing of their choice.  The audit objective is to assess the extent to which HUD's Office of Multifamily Housing monitored civil rights compliance in their program activities. 

Multifamily Mortgage Application Processing Delays

HUD OIG is auditing the Office of Multifamily Housing Programs, which provides insurance on mortgages for multifamily rental housing properties. Between 2020 and 2022, HUD implemented changes to better manage applications after reporting an increase in volume and processing delays, which peaked with more than 500 applications waiting to be assigned for review. Our audit objective is to assess HUD’s efforts to address the processing delays.

Tuscan Homes I and II in Hartford, CT, Was Not Always Managed in Accordance With Its Regulatory Agreement and HUD Requirements

Submitted by system on
We audited Tuscan Homes I and II, a multifamily project located in Hartford, CT, because our risk assessment ranked the project as the highest risk multifamily project in New England.  Our audit objective was to determine whether the owner managed the project in accordance with its regulatory agreement and U.S.

The Management Agent for Lake View Towers Apartments, Chicago, IL, Did Not Always Comply With HUD’s Section 8 HAP Program Requirements

Submitted by system on
We audited the Lake View Towers Apartments’ Section 8 housing assistance payments program based on our analysis of risk factors related to multifamily projects in Region 5’s jurisdiction and the activities included in our fiscal year 2019 annual audit plan.  Our audit objective was to determine whether the management agent administered the project’s program in accordance with the owner’s contract with the U.S.

Information System Control Weaknesses Identified in the FHA Subsidiary Ledger

Submitted by system on
We reviewed the general and application controls over the Federal Housing Administration’s subsidiary ledger as part of the internal control assessments required for the fiscal year 2014 financial statement audit under the Chief Financial Officer’s Act of 1990.  Our objective was to review the effectiveness of general and application controls over the subsidiary ledger for compliance with the U.S.
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