HUD/FHA Wasn't Tracking Property Tax/Insurance Defaults on Reverse Mortgages.

Thanks to story in Senior Housing News, HUD IG report is HERE. IG says:

In the event of foreclosure of the 7,673 loans for which HUD was aware and 12,958 loans of which it was not aware, HUD could lose an estimated $1.4 billion upon sale of the properties.

Originally created and posted on the Oregon Housing Blog.