The Federal Housing Administration insured $1.9 billion worth of loans for borrowers who were ineligible because of delinquent federal or child support debts, according to a report filed by the Department of Housing and Urban Developmentās Office of Inspector General.
The report attributes the improperly insured loans to a lack of available information during the FHA underwriting process.
Find out more details about what the report included and what recommendations have been made.