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Department of Housing and Urban Development OIG

COVID-19 Forbearance Data in HUD’s Single Family Default Monitoring System Generally Agreed With Information Maintained by Loan Servicers

We audited lender reporting of COVID-19 forbearances for Federal Housing Administration (FHA)-insured loans in the Single Family Default Monitoring System (SFDMS). We compared default reporting data from SFDMS to loan data provided by five sampled servicing lenders that serviced a third of the FHA single-family portfolio. Our audit objective was to determine whether COVID-19 forbearance data available in SFDMS were consistent with the information maintained by loan servicers. We found that COVID-19 forbearance data available in SFDMS were generally consistent with the information maintained by...
Department of Housing and Urban Development OIG

Interim Audit Memorandum – The HUD Single Family Insurance Operations Division Should Take Additional Action To Inform Homeowners of Changes to Its FHA Refund Process Resulting From the COVID-19 Pandemic

We audited the U.S. Department of Housing and Urban Development’s (HUD) response to COVID-19 to determine if it appropriately, effectively, and efficiently tracked, monitored, and issued Federal Housing Administration (FHA) refunds owed to homeowners with terminated loans. During our field work, the Coronavirus 2019 (COVID-19) pandemic began and as a result, we developed a second, more urgent audit objective to determine how COVID-19 has affected policies, procedures, and distribution of FHA refunds and whether HUD’s response was appropriate. We determined that COVID-19 generally did not...
Department of Housing and Urban Development OIG

Opportunities Exist To Improve HUD’s Communication to Renters About Eviction Protections

As part of the Office of Inspector General’s effort to provide oversight of the U.S. Department of Housing and Urban Development’s (HUD) relief efforts provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), we reviewed HUD’s communication to renters regarding the eviction moratorium found in Section 4024. The objective of our review was to highlight the progress HUD has made and identify areas for improvement. We found that HUD provided critical information to many of these renters through its website and published guidance. However, we identified several aspects of...
Department of Housing and Urban Development OIG

Some Mortgage Loan Servicers’ Websites Continue to Offer Information about CARES Act Loan Forbearance That Could Mislead or Confuse Borrowers, or Provide Little or no Information at all

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG) conducted this study to follow up on information we shared previously regarding what information servicers of mortgage loans insured by Federal Housing Administration (FHA) are providing to borrowers regarding forbearance options available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). We reported on April 27, 2020, that our review of 30 FHA servicers who service approximately 90 percent of FHA loans, revealed that FHA servicer websites provided incomplete, inconsistent...
Department of Housing and Urban Development OIG

Opportunities Existed to Improve HUD’s Responses to Inquiries From Borrowers, Industry Partners, and the General Public Regarding Forbearance and Foreclosure Relief Provided by the CARES Act

As part of the Office of Inspector General’s (OIG) effort to provide oversight of the U.S. Department of Housing and Urban Development’s (HUD) relief efforts provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), we reviewed HUD’s responses to inquiries regarding forbearance and foreclosure relief. The objective of our review was to evaluate the accuracy of HUD’s responses to inquiries from borrowers, industry partners, and the general public regarding forbearance and foreclosure relief provided by the CARES Act. We found that HUD could improve its customer service to...
Department of Housing and Urban Development OIG

Some Mortgage Loan Servicers’ Websites Offer Information about CARES Act Loan Forbearance That Is Incomplete, Inconsistent, Dated, and Unclear

The U.S. Department of Housing and Urban Development Office of Inspector General assessed what information servicers of mortgage loans that the Federal Housing Administration (FHA) insures were providing on their public facing websites to borrowers regarding forbearance. On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide economic relief to individuals and businesses impacted by the COVID-19 pandemic. On April 17, 2020, 22 days after enactment of the Act, we reviewed the top 30 servicers’ websites to identify readily...