Department of Housing and Urban Development: Loan Origination and Foreclosed Property Management Processes

Pursuant to a congressional request, GAO determined: (1) the extent to which the Department of Housing and Urban Development (HUD) had established adequate loan origination procedures and consistently applied them to determine whether loan applicants comply with the Direct Endorsement (DE) program's statutory, regulatory, and eligibility requirements and have any outstanding delinquent federal debt; and (2) whether HUD's Management and Marketing (M&M) contractors were adequately documenting the actions taken to preserve, protect, and maintain HUD's foreclosed properties.