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Community Planning and Development, Department of Housing and Urban Development, Executive (21 - 30 of 757 items) in Custom Date Range
Overview of GAO's Past Work on FHA's Single-Family Mortgage Insurance Programs
GAO-13-400R: Published: Mar 7, 2013. Publicly Released: Mar 7, 2013.
Among other things, GAO's past work discusses FHA's financial condition and steps the agency has taken to improve its financial condition. As housing prices began to decline at the end of 2006 and conventional mortgage lenders tightened their underwriting standards, more homebuyers began taking advantage of FHA-insured loans, which tend to have less strict underwriting standards and require lower...
Financial Regulatory Reform: Regulators Have Faced Challenges Finalizing Key Reforms and Unaddressed Areas Pose Potential Risks
GAO-13-195: Published: Jan 23, 2013. Publicly Released: Jan 23, 2013.
Implementation of financial regulatory reform is ongoing. Although regulators have made progress in implementing some key reforms required by the Dodd- Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), others remain incomplete. Moreover, the effectiveness of some implemented reforms, as illustrated below, remains to be seen.The Financial Stability Oversight Council (FS...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2012 and 2011 Financial Statements
GAO-13-124R: Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
GAO found (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) the Federal Housing Finance Agency (FHFA) maintained, in all material respects, effective internal control over financial reporting as of September 30, 2012; and (3) no reportable noncompliance in fiscal year 2012 with provisions of laws and r...
Mortgage Financing: Fannie Mae and Freddie Mac's Multifamily Housing Activities Have Increased
GAO-12-849: Published: Sep 6, 2012. Publicly Released: Oct 9, 2012.
From 1994 through 2011, the multifamily loan activities of Fannie Mae and Freddie Mac (the enterprises) generally increased. In this period, Fannie Mae held a lower percentage of multifamily loans in its portfolio than Freddie Mac. While the enterprises multifamily business operations generally were profitable, both enterprises reported losses in 2008 and 2009.In recent years, Fannie Mae and...
Entrepreneurial Assistance: Opportunities Exist to Improve Programs' Collaboration, Data-Tracking, and Performance Management
GAO-12-819: Published: Aug 23, 2012. Publicly Released: Aug 23, 2012.
Federal efforts to support entrepreneurs are fragmented--including among 52 programs at the Department of Agriculture (USDA), Commerce, and Housing and Urban Development (HUD) and the Small Business Administration (SBA). All overlap with at least one other program in terms of the type of assistance they are authorized to offer, such as financial (grants and loans) and technical (training and couns...
Bus Rapid Transit: Projects Improve Transit Service and Can Contribute to Economic Development
GAO-12-811: Published: Jul 25, 2012. Publicly Released: Jul 25, 2012.
U.S. bus rapid transit (BRT) projects we reviewed include features that distinguished BRT from standard bus service and improved riders experience. However, few of the projects (5 of 20) used dedicated or semi-dedicated lanes a feature commonly associated with BRT and included in international systems to reduce travel time and attract riders. Project sponsors and planners explained tha...
Foreclosure Mitigation: Agencies Could Improve Effectiveness of Federal Efforts with Additional Data Collection and Analysis
GAO-12-296: Published: Jun 28, 2012. Publicly Released: Jun 28, 2012.
In an effort to help the millions of homeowners struggling to keep their homes, a range of federal programs have offered relief in the form of loan modifications and refinancing into loans with lower interest rates, among other things. Under Treasurys Home Affordable Modification Program (HAMP), initiated in early 2009, servicers have modified almost 1 million loans between 2009 and 2011. Du...
Tax Policy: Factors for Evaluating Expiring Tax Provisions
GAO-12-760T: Published: Jun 8, 2012. Publicly Released: Jun 8, 2012.
Factors commonly used to evaluate tax policy, as well as other policy tools such as spending programs or regulations, can be applied to decisions about whether and how to extend expiring tax expenditures, as discussed below.Revenue Effects. Revenues foregone through tax expenditures either reduce resources available to fund other federal activities or require higher tax rates to raise a given amou...
Inspectors General: HUD Office of Inspector General Resources and Results
GAO-12-618: Published: May 31, 2012. Publicly Released: May 31, 2012.
During the 5-year period from fiscal year 2007 through 2011, the Department of Housing and Urban Developments (HUD) Office of Inspector General (OIG) had budget and staffing resources that were consistent with other OIGs, and a monetary return for each budget dollar which exceeded the average return for Cabinet-level OIGs. During the 5-year period, the HUD OIG had total budgetary resources r...
Management Report: Opportunities for Improvement in the Federal Housing Finance Agency's Internal Controls
GAO-12-499R: Published: May 16, 2012. Publicly Released: May 16, 2012.
During our audit of FHFAs fiscal years 2011 and 2010 financial statements, we identified one internal control issue and a continuing issue related to information systems controls that could adversely affect FHFAs ability to meet its internal control objectives. We do not consider these issues to represent material weaknesses or significant deficiencies in relation to FHFAs financ...