MEGJC – Housing Fund has 7,829 individuals with mortgages in arrears totaling $530,949,663.55

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Auditor General's Findings

The records of the Housing Agency of Jamaica (HAJ) showed that 7,829 individuals who benefitted from housing solutions had mortgage arrears totaling $530,949,663.55 as at December 2015. Of this amount, $519,910,067.58 represented arrears for solutions developed by the Ministry, while $11,828,084.43 represented solutions developed by the HAJ for properties administered by the Ministry.

In addition, the Ministry’s failure to timely finalize sales agreements for properties resulted in the Fund having $115,319,222.14 in escrow for protracted periods. The AG was unable to determine how long these deposits were held in escrow as the Mortgage Software used by the Ministry was unable to generate aged reports for the escrow accounts or the HAJ arrears. The delays may result in misuse of the funds.

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Permanent Secretary (current): Audrey Sewell

Breach Category: Resource Management

Permanent Secretary (at breach):

Breach Type: Poor Arrears Management

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