On February 23, 2001, the OIG issued Advisory Memorandum A1-03, Development of the Loan Monitoring System.  This report is one in a series of reports related to the ongoing evaluation of the Loan Monitoring System.  This report identifies four findings, specifically: (1) the LMS Project Plan needs updating; (2) the LMS Security Risk Assessment needs to be expanded as systems assets are defined; (3) project status reports and the results of meetings and reviews needs to be documented and distributed, and (4) the quality assurance function acquisition planning needs to be strengthened.