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Community Planning and Development, Department of Housing and Urban Development, Executive (41 - 50 of 757 items)
Residential Appraisals: Opportunities to Enhance Oversight of an Evolving Industry
GAO-11-653: Published: Jul 13, 2011. Publicly Released: Jul 13, 2011.
Real estate valuations, which encompass appraisals and other estimation methods, have come under increased scrutiny in the wake of the recent mortgage crisis. The Dodd- Frank Wall Street Reform and Consumer Protection Act (the Act) mandated that GAO study the various valuation methods and the options available for selecting appraisers, as well as the Home Valuation Code of Conduct (HVCC), which es...
Small Business Programs: Efforts to Address Internal Control Weaknesses and Potential Duplication
GAO-11-558T: Published: Jun 16, 2011. Publicly Released: Jun 16, 2011.
Economic development programs-- administered efficiently and effectively--can contribute to the well-being of the economy at the least cost to taxpayers. Such programs can encompass small business development and contracting. To encourage such contracting, Congress created programs--such as the Historically Underutilized Business Zone (HUBZone), service-disabled veteran-owned small business, and 8...
Economic Development: Efficiency and Effectiveness of Fragmented Programs Are Unclear
GAO-11-651T: Published: May 25, 2011. Publicly Released: May 25, 2011.
This testimony discusses the potential for duplication and fragmentation in economic development programs. In March 2011 and more recently in May 2011 we reported on potential duplication among federal economic development programs. We are involved in ongoing work focusing on economic development programs because if they are administered efficiently and effectively, they can contribute to the well...
Efficiency and Effectiveness of Fragmented Economic Development Programs Are Unclear
GAO-11-477R: Published: May 19, 2011. Publicly Released: May 19, 2011.
One of the areas included in our recent report on potential duplication among federal programs was economic development. If economic development programs are administered efficiently and effectively, they can contribute to the well-being of our nation's economy at the least cost to taxpayers. Absent a common definition for economic development, we had previously developed a list of nine activities...
Mortgage Foreclosures: Documentation Problems Reveal Need for Ongoing Regulatory Oversight
GAO-11-433: Published: May 2, 2011. Publicly Released: May 5, 2011.
Mortgage servicers--entities that manage home mortgage loans--halted foreclosures throughout the country in September 2010, finding that documents required to be provided to courts in some states may have been improperly signed or notarized. In addition, academics and court cases are raising questions over whether foreclosures are being brought properly because of concerns over how loans were tran...
Management Report: Opportunities for Improvement in the Federal Housing Finance Agency's Internal Controls and Accounting Procedures
GAO-11-398R: Published: Apr 29, 2011. Publicly Released: Apr 29, 2011.
In November 2010, we issued our opinion on the Federal Housing Finance Agency's (FHFA) fiscal years 2010 and 2009 financial statements. Our report also included our opinion on the effectiveness of FHFA's internal control over financial reporting as of September 30, 2010, and our evaluation of FHFA's compliance with provisions of selected laws and regulations for the fiscal year ended September 30,...
Neighborhood Stabilization Program: HUD and Grantees Are Taking Actions to Ensure Program Compliance but Data on Program Outputs Could be Improved
GAO-11-48: Published: Dec 17, 2010. Publicly Released: Dec 17, 2010.
Congress created the Neighborhood Stabilization Program (NSP) to help reduce the number of foreclosed and abandoned properties and restore depressed local housing markets. The Housing and Economic Recovery Act of 2008 (HERA) authorized the program's first round (NSP 1), providing $3.92 billion in grant funds to states and local governments. The Department of Housing and Urban Development (HUD) adm...
The Housing Assistance Council's Use of Appropriated Funds
GAO-11-189R: Published: Dec 6, 2010. Publicly Released: Dec 6, 2010.
The Food, Conservation, and Energy Act of 2008 authorized appropriations of $10 million annually for the Housing Assistance Council (HAC) from fiscal years 2009 through 2011. Established in 1971, HAC is a nonprofit rural housing organization that aims to improve housing conditions for low-income rural residents, especially in high-need areas such as Indian country and Appalachia and among groups s...
Mortgage Foreclosures: Additional Mortgage Servicer Actions Could Help Reduce the Frequency and Impact of Abandoned Foreclosures
GAO-11-93: Published: Nov 15, 2010. Publicly Released: Nov 15, 2010.
Entities responsible for managing home mortgage loans--called servicers--may initiate foreclosure proceedings on certain delinquent loans but then decide to not complete the process. Many of these properties are vacant. These abandoned foreclosure--or "bank walkaway"--properties can exacerbate neighborhood decline and complicate federal stabilization efforts. GAO was asked to assess (1) the nature...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2010 and 2009 Financial Statements
GAO-11-151: Published: Nov 15, 2010. Publicly Released: Nov 15, 2010.
The Housing and Economic Recovery Act of 2008 (HERA) created the Federal Housing Finance Agency (FHFA) and gave it responsibility for, among other things, the supervision and oversight of the housing-related government-sponsored enterprises (GSE): Fannie Mae, Freddie Mac, and the 12 federal home loan banks. Specifically, FHFA was assigned responsibility for ensuring that each of the regulated enti...