The HUD Office of the Inspector General has recommended new procedures to address deficiencies in how FHA handles unpaid refunds that are due to borrowers.
The Department of Housing and Urban Development needs a “corrective action plan” to improve and continue to modernize its information systems, the HUD Office of Inspector General said last month.
First-time homebuyers seeking loans backed by FHA, VA or the Rural Housing Service are among those eligible for the DPA program under the Build Back Better Act.
The spending bill would direct $300 million for HUD information technology systems, including those that support FHA mortgage insurance programs and grant programs.
While FHA plans to provide low-cost financing for borrowers mitigating climate hazard, Ginnie said it will consider backing housing programs with environmental, social and governance innovations.