HUD Failed to Track Thousands of Defaulted HECM Loans, IG Finds
September 7, 2010
The Department of Housing and Urban Development’s internal watchdog urged the department to discontinue the practice of deferring foreclosure when an FHA borrower fails to pay taxes and insurance and to put a plan in place to minimize the risk of future defaults due to such nonpayment. HUD’s Office of the Inspector General recommended...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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