Inspector General Audit Finds Weaknesses in GNMA Controls, Possible Breach for Uninsured Mortgages
July 4, 2003
Ginnie Mae is making improvements to decrease the likelihood of uninsured loans being placed in its pools after an audit report found several control weaknesses in its operations. The Office of the Inspector General initiated the review because a recent investigation of a defaulted issuer found weaknesses in Ginnie Mae’s internal controls. The IG performed the audit between July 2001 and December