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HUD watchdog: oversight of temporary COVID-19 forbearances is lacking

The watchdog for the U.S. Department of Housing and Urban Development (HUD) says an audit discovered that the temporary policy for endorsement of loans with COVID-19 forbearance activity had multiple compliance issues.

The Office of Inspector General for HUD said the department should improve two major areas –  ensuring lenders follow the outlined policy, and improving its records regarding indemnification agreements, according to a report released on Monday.

“We audited the [HUD] temporary policy for endorsement of loans with COVID-19 forbearance activity because an analysis of data in HUD’s systems showed that there may have been loans that details ⇒

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