Deobligate all obligations marked for deobligation during Ginnie Mae’s open obligation review, including as much as $34,814,053 in eight contract obligations marked for deobligation.
2018-FO-0004 | November 14, 2017
Additional Details To Supplement Our Fiscal Years 2017 and 2016 (Restated) U.S. Department of Housing and Urban Development Financial Statement Audit
Government National Mortgage Association
- Status2018-FO-0004-008-SOpenClosed$34,814,053Funds Put to Better Use
Recommendations that funds be put to better use estimate funds that could be used more efficiently. For example, recommendations that funds be put to better use could result in reductions in spending, deobligation of funds, or avoidance of unnecessary spending.
- Status2018-FO-0004-010-AOpenClosed
Notify OCFO to disregard Ginnie Mae’s previously provided FMFIA and FFMIA assurance statements and issue corrected FMFIA and financial management system OMB A-123, appendix D (FFMIA), assurance statements that reflect Ginnie Mae’s noncompliance with FFMIA.
2018-FO-0002 | November 13, 2017
Audit of the Government National Mortgage Association’s Financial Statements for Fiscal Years 2017 and 2016 (Restated)
Government National Mortgage Association
- Status2018-FO-0002-002-AOpenClosed
Require its mission support contractors to submit a capitalization report and other supporting documentation in a timely manner, which would allow Ginnie Mae to record fixed asset activities during the proper period.
2017-KC-0008 | September 21, 2017
Ginnie Mae Did Not Adequately Respond to Changes in Its Issuer Base
Government National Mortgage Association
- Status2017-KC-0008-001-AOpenClosed
Develop and implement controls to ensure that policies and procedures for account executives are continually reviewed and updated to reflect changes in Ginnie Mae’s operations.
- Status2017-KC-0008-001-BOpenClosed
Develop and implement controls to review issuers to determine the total impact of a large or multiple-issuer default, the maximize-size default Ginnie Mae can adequately execute, and an issuer’s ability to adapt to changing market conditions.
- Status2017-KC-0008-001-COpenClosed
Develop and implement controls to continually assess skills required to meet organizational goals to include a plan to prioritize resources to accommodate changing organizational needs.
- Status2017-KC-0008-001-DOpenClosed
Develop and implement training programs to ensure that employee skill levels are developed to meet changing organizational needs to include secondary market training.