Finding 570920 (2024-001)

Finding reference number: 2024-001 Assistance Listing (Federal award identification number and year): Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, CFDA N0. 14.155 (Project identification number 115-11319, 2020) Auditor non-compliance code: Z – Other Finding resolution status: Resolved Universe population size: The universe population size is not applicable to the finding Sample size population: The sample size is not applicable to the finding Statistically valid sample: N/A Name of Federal agency: U.S. Department of Housing and Urban Development Pass-through entity: N/A Questioned costs: N/A Statement of condition 2024-001: For the year ended December 31, 2024, the Company did not submit the Data Collection Form (SF-SAC) to the Federal Audit Clearinghouse in the time period required by Uniform Guidance Section 2 CFR 200.512. Criteria: Pursuant to Uniform Guidance Section 2 CFR 200.512, the Company is required to submit the Data Collection Form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of the auditor's report or 9 months after the end of the audit period. Effect: The Company is not in compliance with Uniform Guidance Section 2 CFR 200.512. Cause: The Company did not submit the Data Collection Form within the required time period due to oversight. Recommendation: The Company should submit the Data Collection Form to the Federal Audit Clearinghouse within the required time period. Management's response: Management concurs with the finding and agrees with the auditor's recommendation. The Data Collection Form was submitted to the Federal Audit Clearinghouse on May 10, 2024 and management will submit the Data Collection Form timely going forward.