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Read our report on six communities’ experiences with pandemic funding and programs, which provides valuable lessons learned to improve federal emergency response programs.

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Search reports, investigative results, and agency plansShowing 41 - 50 of 150 results
Federal Reserve Board & CFPB OIG

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.

Date Initiated: | Status of Work: Ongoing
Department of the Treasury OIG

Desk Review of Turtle Mountain Band of Chippewa Indians’ Use of Coronavirus Relief Fund Proceeds (Redacted)

Other |

Department of the Treasury OIG

Desk Review of State of California’s Use of Coronavirus Relief Fund Proceeds

Other |

Department of the Treasury OIG

Desk Review of Los Angeles County, California’s Use of Coronavirus Relief Fund Proceeds

Other |

Department of the Treasury OIG

Desk Review of Lancaster County, Pennsylvania’s Use of Coronavirus Relief Fund Proceeds

Other |

Department of the Treasury OIG

Desk Review of New York City’s Use of Coronavirus Relief Fund Proceeds

Other |
Department of the Treasury OIG

Desk Review of The Cherokee Nation, Oklahoma’s Use of Coronavirus Relief Fund Proceeds

Other |
Department of the Treasury OIG

Desk Review of State of Illinois’ Use of Coronavirus Relief Fund Proceeds

Other |
Department of the Treasury OIG

Desk Review of Chippewa Cree Tribe’s Use of Coronavirus Relief Fund Proceeds

Other |

Department of Housing and Urban Development OIG

Nationstar Generally Did Not Meet HUD Requirements When Providing Loss Mitigation to Borrowers of Delinquent FHA-Insured Loans

We audited Nationstar Mortgage, LLC’s (doing business as Mr. Cooper (Nationstar)) compliance with the Federal Housing Administration’s (FHA) requirements for providing loss mitigation assistance to borrowers after their COVID-19 forbearance ended. We concurrently conducted a nationwide audit of servicers’ compliance with the U.S. Department of Housing and Urban Development’s (HUD) COVID-19 loss mitigation requirements (HUD Office of Inspector General (OIG) Report 2023-KC-0005). This audit complements that audit by examining how a single provider, Nationstar, provided loss mitigation for...
Audit |