COVID-19 Forbearance Data in HUD’s Single Family Default Monitoring System Generally Agreed With Information Maintained by Loan Servicers
Audit · Department of Housing and Urban Development OIG · 2021-08-16 · about Department of Housing and Urban Development
Report
Title
COVID-19 Forbearance Data in HUD’s Single Family Default Monitoring System Generally Agreed With Information Maintained by Loan Servicers
Submitting OIG
Department of Housing and Urban Development OIG
Component agency
Department of Housing and Urban Development
Type
Audit
Publication date
2021-08-16
Summary
We audited lender reporting of COVID-19 forbearances for Federal Housing Administration (FHA)-insured loans in the Single Family Default Monitoring System (SFDMS). We compared default reporting data from SFDMS to loan data provided by five sampled servicing lenders that serviced a third of the FHA single-family portfolio. Our audit objective was to determine whether COVID-19 forbearance data available in SFDMS were consistent with the information maintained by loan servicers.