Pursuit's Take
The Department of Housing and Urban Development (HUD), Office of Inspector General (OIG) audited the Federal Housing Administration’s (FHA) insured loans to find out whether FHA insured loans to “borrowers with delinquent Federal debt or who were subject to Federal administrative offset for delinquent child support.”
According to the report, almost 10,000 loans worth $1.9 billion were not eligible for insurance because they were made to borrowers with delinquent federal debt or were delinquent on child support payments.
Read the full report