ABSTRACT

Mismanagement of the Hardest Hit Fund in Georgia   [open pdf - 2MB]

From the Document: "SIGTARP [Special Inspector General for the Troubled Asset Relief Program] conducted this audit upon request by Congressman John Lewis. SIGTARP found that TARP's [Troubled Asset Relief Program] Hardest Hit Fund (HHF) program has not adequately served those most in need in Georgia counties in Congressman Lewis' district in Atlanta and surrounding areas. The Georgia Department of Community Affairs (the Georgia agency) has consistently ranked among the least effective state agencies in the nation in disbursing Hardest Hit Funds to homeowners. In 2010, it told Treasury that it planned to distribute Hardest Hit Funds to 18,625 homeowners (9,000 homeowners in the first year, and 9,500 homeowners in the second year). But it has taken more than 6 years for the Georgia agency to provide Hardest Hit Funds to 9,061 Georgia homeowners. The Georgia agency has provided less than half of the available dollars ($173.8 million out of $370.1 million) to homeowners."

Report Number:
SIGTARP-18-001; Special Inspector General for the Troubled Asset Relief Program 18-001
Publisher:
Date:
2017-10-13
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: http://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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