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Federal Housing Finance Board, Independent Agencies (1 - 5 of 5 items)
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...
Nonprime Mortgages: Analysis of Loan Performance, Factors Associated with Defaults, and Data Sources
GAO-10-805: Published: Aug 24, 2010. Publicly Released: Sep 23, 2010.
The surge in mortgage foreclosures that began in late 2006 and continues today was initially driven by deterioration in the performance of nonprime (subprime and Alt-A) loans. Nonprime mortgage originations increased dramatically from 2000 through 2006, rising from about 12 percent ($125 billion) of all mortgage originations to about 34 percent ($1 trillion). The nonprime market contracted sharply...
Government Sponsored Enterprises: Advantages and Disadvantages of Creating a Single Housing GSE Regulator
GGD-97-139: Published: Jul 9, 1997. Publicly Released: Jul 17, 1997.
Pursuant to a congressional request, GAO reviewed the advantages and disadvantages of creating a single regulator for the three housing government-sponsored enterprises (GSE).GAO noted that: (1) GAO's ongoing work has strengthened its belief that the housing GSE regulators would be more effective if combined and authorized to oversee both safety and soundness and mission compliance; (2) nothing GA...
Information Technology: Streamlining FHA's Single Family Housing Operations
AIMD-97-4: Published: Oct 17, 1996. Publicly Released: Oct 17, 1996.
Pursuant to a congressional request, GAO reviewed the Federal Housing Administration's (FHA) streamlining plans, focusing on: (1) FHA plans to use information technology to support the streamlining of single-family housing operations and reduce staff; (2) similarities between FHA initiatives and those undertaken by leading mortgage organizations to increase productivity; and (3) FHA efforts to ens...
Homeownership: FHA's Role in Helping People Obtain Home Mortgages
RCED-96-123: Published: Aug 13, 1996. Publicly Released: Aug 13, 1996.
Pursuant to a congressional request, GAO provided information on the Federal Housing Administration's (FHA) role in helping people to obtain home mortgages.GAO found that: (1) FHA and Department of Veterans Affairs (VA) programs allow borrowers to make smaller downpayments and accumulate higher total debt to income ratios than private mortgage insurers (PMI); (2) FHA programs finance closing costs...