Submitting OIG:
Report Description:
We audited the Federal Housing Administration (FHA), Office of Asset Sales’ U.S. Department of Housing and Urban Development (HUD)-Held Vacant Loan Sales (HVLS) program. The audit objective was to assess the extent to which HUD achieved its mission objectives for a 2022 vacant loan sale. We noted deficiencies in 52 of 53 HUD-approved applications within the reviewed vacant loan sale. These deficiencies occurred in transactions for all seven purchasers that purchased loans in the sales. HUD risks not achieving its mission objectives to promote sales first to mission-driven entities or to encourage mission outcomes by allowing purchasers that submitted deficient applications to purchase distressed FHA loans.
Date Issued:
Thursday, April 18, 2024
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
2024-KC-0001
Component, if applicable:
Federal Housing Administration (FHA)
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
0
Report updated under NDAA 5274:
No
View Document:
Attachment | Size |
---|---|
2024-kc-0001.pdf | 1.11 MB |
Additional Details Link: