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Demolition-Related Risks in TARP-Funded Blight Program Mitigated Through Michigan State Agency's Implementation of SIGTARP Recommendations

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A new review by SIGTARP found that the Michigan Homeowner Assistance Nonprofit Corporation and the Michigan State Housing Development Agency have made significant progress in adopting most of SIGTARP's recommendations, although not all. Some level of risk remains based on contractor violations and recent soil samples.

SIGTARP identifies wasteful spending to help the government recover taxpayer funds. We identify abuse and vulnerabilities that put federal dollars at risk of fraud.

- Special Inspector General Goldsmith Romero

SIGTARP audits TARP programs to prevent fraud and abuse, identify wasteful spending, and drive improvements. We ensure these programs are effective and efficient at achieving the U.S. Treasury Department's goals, including neighborhood stabilization and homeownership preservation.

When our team of forensic auditors and evaluators find a program may be at risk, they get to work reviewing documents, interviewing and analyzing. After an audit confirms waste, abuse, or fraud, SIGTARP looks for ways to recover taxpayer dollars and mitigate the risk by leveraging best practices and our extensive knowledge of TARP. We then issue recommendations to the U.S. Treasury Department, which we share with Congress and the public.

TARP programs include:

The Hardest Hit Fund
  • Unemployment assistance in the rust belt and southern states
  • Demolition of abandoned homes to stabilize neighborhoods

Home Affordable Modification Program
  • Lower homeowner interest rates through contracts to pay mortgage servicers

SIGTARP Audits By the Numbers

SIGTARP Audits By The Numbers