Audit 2908

FY End
2023-06-30
Total Expended
$797.03M
Findings
8
Programs
10
Year: 2023 Accepted: 2023-11-13
Auditor: Rubinbrown LLP

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
1670 2023-001 Material Weakness Yes B
1671 2023-001 Material Weakness Yes B
1672 2023-002 Material Weakness Yes B
1673 2023-003 - - B
578112 2023-001 Material Weakness Yes B
578113 2023-001 Material Weakness Yes B
578114 2023-002 Material Weakness Yes B
578115 2023-003 - - B

Contacts

Name Title Type
TFE3FPXJ3NF7 Marilyn Lappin Auditee
8167596682 Kaleb Lilly Auditor
No contacts on file

Notes to SEFA

Title: Organization Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Commission and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Commission has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards presents the activity of all federal award programs of Missouri Housing Development Commission (the Commission) for the year ended June 30, 2023. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies, are included on the schedule.
Title: Additional Audits Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Commission and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Commission has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Grantor agencies reserve the right to conduct additional audits of the Commission’s grant programs for economy and efficiency and program results which may result in disallowed costs to the Commission. However, management does not believe such audits would result in any disallowed costs that would be material to the Commission’s financial position at June 30, 2023.
Title: Loan Programs Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Commission and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Commission has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Commission participates in the Section 538 Rural Rental Housing Guaranteed Loans program (7 C.F.R. pt.3565 (2008)) (ALN No. 10.438), under which the Rural Housing Service (RHS), Department of Agriculture (USDA) provides credit enhancements to encourage lending for affordable rental properties that meet program standards. The USDA has assumed 90% of the risk in one loan closed and funded by the Commission in previous years. The Commission services this loan which had an outstanding balance at June 30, 2023 of $109,000. USDA’s assumed risk approximated $98,000 at June 30, 2023. Certain mortgage loans of the Commission are insured by the U.S. Department of Housing and Urban Development (HUD) under Section 221(d)(3) and (4) Multifamily-Market Rate Housing program (12 U.S.C. 17151(d)(3),(4) (2006)) (ALN No. 14.135) which insures lenders against loss on mortgage defaults for market rate rental developments. The Commission services these loans and the outstanding balance at June 30, 2023 was $1,516,000. The Commission participates in the Section 542(c) Risk Sharing Program (24 C.F.R. pt.226 (2008)) (ALN No. 14.188), under which HUD provides credit enhancements for multifamily housing development loans. HUD and theCommission share in the risk of loss on the mortgages. The Commission services these loans and the outstanding balance at June 30, 2023 was $41,715,000. HUD has assumed 50% of the risk in these loans. HUD’s assumed risk approximated $20,857,000 at June 30, 2023. The Commission is the Administrator of the HOME Investment Partnerships Program (HOME) (CDFA No. 14.239) for the State of Missouri. The HOME program provides financing for several eligible activities that increase the supply of affordable housing for low and very low income persons. The Commission uses a portion of its HOME allocation to finance multifamily mortgages at very low interest rates, which results in rents that are affordable for low income families. HOME mortgages outstanding total $274,571,000 at June 30, 2023. The Commission services these loans, which have continuing compliance requirements during the period of affordability, as defined by the HOME program requirements, which vary depending on the number of HOME units at each property. The Commission is the Administrator of the Housing Trust Fund (CDFA No. 14.275) for the State of Missouri. The Housing Trust Fund provides financing for eligible activities that increase the supply of affordable housing for low and very low income persons. The Commission uses the Housing Trust Fund allocation to finance multifamily mortgages at very low interest rates, which results in rents that are affordable for low income families. Housing Trust Fund mortgages outstanding total $16,638,000 at June 30, 2023. The Commission services these loans, which have continuing compliance requirements during the period of affordability, as defined by the Housing Trust Fund requirements, which vary depending on the number of Housing Trust Fund units at each property.
Title: Undisbursed Funds Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Commission and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Commission has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Analysis of undisbursed funds at June 30, 2023, was as follows (in thousands): 14.182 14.231 14.239 14.275 21.023 21.026 Undisbursed cash $ 298 $ 12 $ 30,912 $ 55 $ 18,985 $ 77,142

Finding Details

Finding 2023-001 – Allowable Costs and Activities – Compliance and Control Finding Federal Award. No. 14.231 Emergency Solutions Grant Program – COVID 19 Federal Agency: U.S. Department of Housing and Urban Development Pass-Through Entity: Missouri Department of Social Services Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: In our nonstatistical sample of 40 transactions, we noted no exceptions as a result of our testing. However, during the current fiscal year, management of the Commission identified certain questionable rental assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements for the program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $320,658 of known questioned costs in fiscal year 2023. Context: Approximately 1,300 vendors are set up in the Commission’s system for application of emergency rental assistance. Of the vendors with applications approved for funding, 134 are considered to be known noncompliance for a total amount of known questioned costs of $2,112,621 since fiscal year 2021. After the identification of the first instance of noncompliance, the Commission adjusted and enhanced its procedures for evaluating current and existing applications. As the Commission reviews future applications following their updated policies and procedures, additional vendors could be flagged to investigate prior payments for potential ineligible costs. Identification As A Repeat Finding: Repeat of Finding No. 2022-001. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission continue to provide additional training to employees as well as third parties responsible for reviewing and approving applications. Internal controls over allowable costs and activities should ensure procedural improvements are implemented properly. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal years 2021 and 2022, reviewed applications to identify potentially fraudulent applications during fiscal years 2022 and 2023 and expects to conclude its investigation of identified cases during fiscal year 2024. Contact Person: Steve Whitson, Director of Community Programs
Finding 2023-001 – Allowable Costs and Activities – Compliance and Control Finding Federal Award. No. 14.231 Emergency Solutions Grant Program – COVID 19 Federal Agency: U.S. Department of Housing and Urban Development Pass-Through Entity: Missouri Department of Social Services Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: In our nonstatistical sample of 40 transactions, we noted no exceptions as a result of our testing. However, during the current fiscal year, management of the Commission identified certain questionable rental assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements for the program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $320,658 of known questioned costs in fiscal year 2023. Context: Approximately 1,300 vendors are set up in the Commission’s system for application of emergency rental assistance. Of the vendors with applications approved for funding, 134 are considered to be known noncompliance for a total amount of known questioned costs of $2,112,621 since fiscal year 2021. After the identification of the first instance of noncompliance, the Commission adjusted and enhanced its procedures for evaluating current and existing applications. As the Commission reviews future applications following their updated policies and procedures, additional vendors could be flagged to investigate prior payments for potential ineligible costs. Identification As A Repeat Finding: Repeat of Finding No. 2022-001. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission continue to provide additional training to employees as well as third parties responsible for reviewing and approving applications. Internal controls over allowable costs and activities should ensure procedural improvements are implemented properly. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal years 2021 and 2022, reviewed applications to identify potentially fraudulent applications during fiscal years 2022 and 2023 and expects to conclude its investigation of identified cases during fiscal year 2024. Contact Person: Steve Whitson, Director of Community Programs
Finding 2023-002 – Allowable Costs and Activities, Eligibility – Compliance and Control Finding Federal Award. No. 21.023 Emergency Rental Assistance Program – COVID 19 Federal Agency: U.S. Department of Treasury Pass-Through Entity: Missouri Department of Economic Development Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: In our nonstatistical sample of 40 transactions, we noted no exceptions as a result of our testing. However, during the current fiscal year, management of the Commission identified certain questionable rental assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements and other payments are pending further investigation. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements under a new program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $1,613,771 of known questioned costs and is actively investigating an additional $2,956,036 of potential questioned costs in fiscal year 2023. Context: Approximately 33,000 vendors are set up in the Commission’s system for application of emergency rental assistance. Of the vendors with applications approved for funding, 350 are considered to be known noncompliance and 225 are being investigated for potential noncompliance. Since fiscal year 2021, $22,461,431 of costs are actively being investigated by the Commission. Of this amount, the Commission has identified $12,293,592 of known questioned costs and $10,167,839 of potential questioned costs that are still being investigated. After the identification of the first instance of noncompliance, the Commission adjusted and enhanced its procedures for evaluating current and existing applications. As the Commission reviews future applications following their updated policies and procedures, additional vendors could be flagged to investigate prior payments for potential ineligible costs. As the direct rental and utility assistance provided in accordance with this program was concluded and the final disbursements made during February 2023, additional internal metrics and compliance review processes are being developed to apply a consistent process for examining any outstanding questioned costs and to make a final determination regarding the eligibility of disbursed funds. Identification As A Repeat Finding: Repeat of Finding No. 2022-002. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission continue to provide additional training to employees as well as third parties responsible for reviewing and approving applications. Internal controls over allowable costs and activities should ensure procedural improvements are implemented properly. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal years 2021 and 2022 and expects to conclude its investigation of the fiscal year identified cases during calendar year 2024. Contact Person: Steve Whitson, Director of Community Programs
Finding 2023-003 – Allowable Costs and Activities, Eligibility – Compliance Finding Federal Award. No. 21.026 Homeowner Assistance Fund – COVID 19 Federal Agency: U.S. Department of Treasury Pass-Through Entity: Missouri Department of Economic Development Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: The Homeowner Assistance Fund was not tested as a major program in 2023. However, during the current fiscal year, management of the Commission identified certain questionable mortgage assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements for the program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $174,926 of known questioned costs in fiscal year 2023. Context: Approximately 220 mortgage loan servicers or financial institutions are set up to receive mortgage assistance payments on behalf of mortgagors. The Commission was alerted by another housing finance agency through an industry group regarding a third-party entity impersonating a mortgage company. Upon investigation, the Commission determined the entity was in noncompliance with the program requirements. The Commission reviewed its onboarding procedures for mortgage loan servicers and enhanced its documentation review to prevent noncompliant mortgage loan servicers from participating in the program. Identification As A Repeat Finding: Not a Repeat Finding. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission review and consider improvements to its onboarding procedures and related controls for mortgage loan servicers. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal year 2023 and completed its investigation of the identified case. Contact Person: Steve Whitson, Director of Community Program
Finding 2023-001 – Allowable Costs and Activities – Compliance and Control Finding Federal Award. No. 14.231 Emergency Solutions Grant Program – COVID 19 Federal Agency: U.S. Department of Housing and Urban Development Pass-Through Entity: Missouri Department of Social Services Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: In our nonstatistical sample of 40 transactions, we noted no exceptions as a result of our testing. However, during the current fiscal year, management of the Commission identified certain questionable rental assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements for the program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $320,658 of known questioned costs in fiscal year 2023. Context: Approximately 1,300 vendors are set up in the Commission’s system for application of emergency rental assistance. Of the vendors with applications approved for funding, 134 are considered to be known noncompliance for a total amount of known questioned costs of $2,112,621 since fiscal year 2021. After the identification of the first instance of noncompliance, the Commission adjusted and enhanced its procedures for evaluating current and existing applications. As the Commission reviews future applications following their updated policies and procedures, additional vendors could be flagged to investigate prior payments for potential ineligible costs. Identification As A Repeat Finding: Repeat of Finding No. 2022-001. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission continue to provide additional training to employees as well as third parties responsible for reviewing and approving applications. Internal controls over allowable costs and activities should ensure procedural improvements are implemented properly. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal years 2021 and 2022, reviewed applications to identify potentially fraudulent applications during fiscal years 2022 and 2023 and expects to conclude its investigation of identified cases during fiscal year 2024. Contact Person: Steve Whitson, Director of Community Programs
Finding 2023-001 – Allowable Costs and Activities – Compliance and Control Finding Federal Award. No. 14.231 Emergency Solutions Grant Program – COVID 19 Federal Agency: U.S. Department of Housing and Urban Development Pass-Through Entity: Missouri Department of Social Services Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: In our nonstatistical sample of 40 transactions, we noted no exceptions as a result of our testing. However, during the current fiscal year, management of the Commission identified certain questionable rental assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements for the program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $320,658 of known questioned costs in fiscal year 2023. Context: Approximately 1,300 vendors are set up in the Commission’s system for application of emergency rental assistance. Of the vendors with applications approved for funding, 134 are considered to be known noncompliance for a total amount of known questioned costs of $2,112,621 since fiscal year 2021. After the identification of the first instance of noncompliance, the Commission adjusted and enhanced its procedures for evaluating current and existing applications. As the Commission reviews future applications following their updated policies and procedures, additional vendors could be flagged to investigate prior payments for potential ineligible costs. Identification As A Repeat Finding: Repeat of Finding No. 2022-001. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission continue to provide additional training to employees as well as third parties responsible for reviewing and approving applications. Internal controls over allowable costs and activities should ensure procedural improvements are implemented properly. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal years 2021 and 2022, reviewed applications to identify potentially fraudulent applications during fiscal years 2022 and 2023 and expects to conclude its investigation of identified cases during fiscal year 2024. Contact Person: Steve Whitson, Director of Community Programs
Finding 2023-002 – Allowable Costs and Activities, Eligibility – Compliance and Control Finding Federal Award. No. 21.023 Emergency Rental Assistance Program – COVID 19 Federal Agency: U.S. Department of Treasury Pass-Through Entity: Missouri Department of Economic Development Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: In our nonstatistical sample of 40 transactions, we noted no exceptions as a result of our testing. However, during the current fiscal year, management of the Commission identified certain questionable rental assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements and other payments are pending further investigation. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements under a new program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $1,613,771 of known questioned costs and is actively investigating an additional $2,956,036 of potential questioned costs in fiscal year 2023. Context: Approximately 33,000 vendors are set up in the Commission’s system for application of emergency rental assistance. Of the vendors with applications approved for funding, 350 are considered to be known noncompliance and 225 are being investigated for potential noncompliance. Since fiscal year 2021, $22,461,431 of costs are actively being investigated by the Commission. Of this amount, the Commission has identified $12,293,592 of known questioned costs and $10,167,839 of potential questioned costs that are still being investigated. After the identification of the first instance of noncompliance, the Commission adjusted and enhanced its procedures for evaluating current and existing applications. As the Commission reviews future applications following their updated policies and procedures, additional vendors could be flagged to investigate prior payments for potential ineligible costs. As the direct rental and utility assistance provided in accordance with this program was concluded and the final disbursements made during February 2023, additional internal metrics and compliance review processes are being developed to apply a consistent process for examining any outstanding questioned costs and to make a final determination regarding the eligibility of disbursed funds. Identification As A Repeat Finding: Repeat of Finding No. 2022-002. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission continue to provide additional training to employees as well as third parties responsible for reviewing and approving applications. Internal controls over allowable costs and activities should ensure procedural improvements are implemented properly. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal years 2021 and 2022 and expects to conclude its investigation of the fiscal year identified cases during calendar year 2024. Contact Person: Steve Whitson, Director of Community Programs
Finding 2023-003 – Allowable Costs and Activities, Eligibility – Compliance Finding Federal Award. No. 21.026 Homeowner Assistance Fund – COVID 19 Federal Agency: U.S. Department of Treasury Pass-Through Entity: Missouri Department of Economic Development Criteria Or Specific Requirement: 2 CFR sections 200.400 through 200.401 provide the general provisions for cost principles. Section 200.400(b) states that the non-Federal entity assumes responsibility of administering Federal funds in a manner consistent with underlying agreements, program objectives and the terms and conditions of the Federal award. Condition: The Homeowner Assistance Fund was not tested as a major program in 2023. However, during the current fiscal year, management of the Commission identified certain questionable mortgage assistance payments. Certain payments have been reported to the appropriate agencies in accordance with regulatory requirements. Cause: The significant amount of Federal dollars awarded, the short period of time required to make awards available and the presence of new requirements for the program were burdensome for management to disburse in compliance with Federal guidelines. Compared to the Commission’s other Federal programs, the program involves a very large number of applications and a high volume of transactions resulting in exposure to error and irregularity. Effect: Instances of known and suspected noncompliance were identified by the Commission. Questioned Costs: The Commission has identified $174,926 of known questioned costs in fiscal year 2023. Context: Approximately 220 mortgage loan servicers or financial institutions are set up to receive mortgage assistance payments on behalf of mortgagors. The Commission was alerted by another housing finance agency through an industry group regarding a third-party entity impersonating a mortgage company. Upon investigation, the Commission determined the entity was in noncompliance with the program requirements. The Commission reviewed its onboarding procedures for mortgage loan servicers and enhanced its documentation review to prevent noncompliant mortgage loan servicers from participating in the program. Identification As A Repeat Finding: Not a Repeat Finding. Recommendation: We recommend that management continue to apply resources devoted to mitigating and preventing further exposure to noncompliance. Additionally, we recommend the Commission review and consider improvements to its onboarding procedures and related controls for mortgage loan servicers. Views Of Responsible Officials: See Management’s review and Corrective Action Plan included at the end of the report. Anticipated Completion Date: The Commission implemented additional compliance review procedures during fiscal year 2023 and completed its investigation of the identified case. Contact Person: Steve Whitson, Director of Community Program