HUD IG Finds Weak Agency Oversight of Servicer Loss Mitigation Activity, HUD Seeks Tweaks on Recommendations
September 28, 2017
The Department of Housing and Urban Development has asked its internal watchdog to make some “minor adjustments” to its recommendations following recent audit findings of inadequate HUD monitoring of servicers’ loss mitigation activities. Commenting on the HUD Inspector General’s report, HUD asked for some minor tweaks so that it can best implement the IG’s recommended changes, which include revisions in the department’s monitoring policies and procedures, development of new policies and procedures for sharing new information, and indemnification and administrative actions. The IG undertook...