Reports
Evaluation of the Paycheck Protection Program Liquidity Facility’s (PPPLF) Credit Extension Repayment and At-Risk Loan Monitoring Efforts
In response to the COVID-19 pandemic, the Board established the PPPLF to extend credit to financial institutions that originate loans through the U.S. Small Business Administration’s guaranteed Paycheck Protection Program (PPP), taking the PPP loans as collateral. The PPPLF, managed by the Federal Reserve Bank of Minneapolis and operated out of the 12 Federal Reserve Banks, distributed billions of dollars to eligible lenders. We will assess the effectiveness of internal controls to (1) determine lender eligibility, extend credit, and process repayments and (2) identify at-risk advances, handle instances of nonpayment, and detect and mitigate fraud. We also plan to assess the extent to which the Federal Reserve System coordinates with the U.S. Small Business Administration to determine lender eligibility, recover losses due to nonpayment, and detect and mitigate fraud.
Taxpayers Were Notified About the CARES Act Retirement Plan Provisions; However, Additional Actions Could Be Taken to Identify Potential Noncompliance
Assessment of Processes to Verify Tentative Carryback Refund Eligibility
HUD’s Use of, Accounting for, and Reporting on CARES Act Funding
HUD and its CDBG-DR grantees have experienced challenges related to the COVID-19 Pandemic
Key Considerations From Prior Audits of the Single Family Default Monitoring System and the Partial Claim Loss Mitigation Option
Drawdown Levels for the Initial Round of CARES Act Emergency Solutions Grants Were Minimal
Public and Indian Housing Supplemental Operating Funds
HUD OIG is conducting a limited review of HUD's administration of supplemental operating funds under the CARES Act. The CARES Act authorized an additional $685 million in public housing operating funds to prevent, prepare for, and respond to COVID-19. The review objective is to assess Public Housing Agencies' (PHA) experiences and challenges and HUD's efforts in providing guidance related to the administration of supplemental operating funds under the CARES Act.