Our Government Services’ mission is to provide the Federal agencies with top quality accounting and consulting staff that can meet the challenges that these agencies face in this ever changing and dynamic environment.
We are currently performing the following services:
U.S. Patent and Trademark Office (USPTO)
KEY is currently providing budgetary, accounting and financial management and reporting services at USPTO. KEY is providing a significant level of service in support of USPTO’s highly automated and complex financial operations and key programs. Each year, USPTO generates over $1 billion in annual revenues from delivering a wide variety of intellectual property services, and related products. We are responsible for performing monthly accounting analysis and provide financial statements to be consolidated with the U.S. Department of Commerce.
U.S. Department of Housing & Urban Development (HUD) – Single Family Claims Support Center
KEY was under contract with FHA to operate the Single Family Claims Support Center. KEY was responsible for the manual processing of supplemental claims and for maintaining an automated system for establishing receivables owed by mortgagees that receive excess claim payments, due to their misstatement of expense amounts. These accounts had to be created, monitored, and updated according to the specifics related to each case, including determining the correct amount for posting collections that are received and generating demand letters.
U.S. Department of Housing & Urban Development (HUD) – Lender Assessment Sub-System
KEY provides compliance monitoring services by reviewing audited financial statements and supplemental reports received annually through the Lender Assessment Sub-System (LASS) from mortgagees and lenders participating in FHA Insurance Programs. Our team substantiates that the LASS submissions are completed by the lenders based on the lenders’ financial statements and supplemental reports that were audited by independent certified public accountants (CPA) in accordance with the HUD Handbook 2000.04 Rev. 2, Consolidated Audit Guide for Audits of HUD Programs.
U.S. Department of Housing & Urban Development (HUD) – Multifamily Claims
The Multifamily Claims Branch (MFCB) requires KEY to perform claim reviews and settlement processes under various subtasks. We consider sub-task one to be the core examination process upon which our performance of all other subtasks will be based. Approximately 150 regular claims will be examined annually, consisting of three types: Insurance Assignment – Final Payment; Coinsurance Claim – Final and Payment Conveyance Claim – Final Payment.
U.S. Department of Housing & Urban Development (HUD) – Single Family Post Claims Review
KEY performs on-site and in-house post claim and follow-up reviews at more than 100 mortgage companies each year. This requires a team of trained reviewers to inspect the contents of mortgage insurance claim files from various mortgage companies that service and sometimes hold the mortgage notes in default. The review team analyzes legal documents for compliance with FHA processing requirements, ensures that preservations and protection costs are allowable and fully documented, and reviews files for compliance with FHA loss mitigation requirements. The team cites any non-compliance and calculates a proposed refund to HUD. The team provides mortgage lenders with technical advice and recommendations on how to better maintain mortgage files and improve foreclosure document processes and procedures to avoid penalties.
U.S. Department of Housing & Urban Development (HUD) – CPA Services
KEY performs reviews of the Asset Control Area (ACA) II program participant performance report to ascertain whether or not the contractor is meeting the terms of the contract. We have already provided an Agreed Upon Review Procedures (AUP) report to assess the extent of HUD’s regional Homeownership Center’s compliance with the documentation, processed and reviewed requirements prescribed by HUD’s Real Estate Owned (REO) Division’s Financial Control Manual (FCM) regarding processing payment transmittals submitted by HUD’s Management Marketing contractors.