Finding Text
Finding 2024-004 Delinquent Loan Payment Condition: The Corporation is required to make timely loan payments for the USDA mortgage. The December loan payment was delinquent, and the Corporation incurred a late fee. Criteria: The Corporation should ensure all loan payments are made timely. Cause: The rental assistance request was filed late which caused the loan payment to be late. Effect: The Corporation was in default of their loan agreement and incurred a late fee. Recommendation: All reports should be filed timely to ensure proper loan payments. Repeat Finding: No. Views of Responsible Officials and Planned Corrective Actions: The Corporation is aware of delinquency. There has been a change in personnel to help ensure that timely filed reports are made.