Government finds lost $1.9 billion in housing money

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In a significant financial recovery announcement, the Department of Government Efficiency (DOGE), under Elon Musk’s leadership, has successfully retrieved $1.9 billion in taxpayer funds that were previously unaccounted for during the Biden administration.

The recovered funds were originally designated for the Department of Housing and Urban Development (HUD)’s financial services administration, but were later determined to be surplus due to operational inefficiencies.

“$1.9 billion of HUD money was just recovered after being misplaced during the Biden administration due to a broken process,” stated the DOGE official page.

$1.9 billion of HUD money was just recovered after being misplaced during the Biden administration due to a broken process. These funds were earmarked for the administration of financial services, but were no longer needed. @SecretaryTurner and @DOGE worked together to fix the… pic.twitter.com/NDZPr8sjFC

— Department of Government Efficiency (@DOGE) February 14, 2025

“These funds were earmarked for the administration of financial services, but were no longer needed. Secretary Scott Turner and DOGE worked together to fix the issue and de-obligated the funds which are now available for other use by the Treasury.”

The New York Post provided details on the contracts, reporting that “The contracts were earmarked for Carrington Mortgage Services and Selene Finance in August 2019 and would’ve paid out $751,221,224.87 and $836,689,235.84 to each company, respectively.”

Elon Musk commented on the discovery, stating, “It is astounding how much taxpayer money can be saved with even a small amount of effort.”

Through close collaboration between HUD Secretary Scott Turner and DOGE, the funds have been successfully de-obligated and transferred back to the U.S. Treasury for future allocation.

How do you "misplace" $1.9 Billion. That's a lot of damn zeros!!! https://t.co/TkFGlOWDZU

— Bobbysgirl (@karinfish4) February 14, 2025

The recovery announcement follows Secretary Turner’s recent establishment of a dedicated DOGE task force within HUD, aimed at enhancing financial supervision and operational efficiency.

“We will be very detailed and deliberate about every dollar spent in serving tribal, rural, and urban communities across America,” Turner declared in a video shared on X.

The Secretary also mentioned his team’s earlier discovery of potential savings amounting to $260 million during the same week.