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Office of Housing, Department of Housing and Urban Development, Executive (51 - 60 of 159 items)
Multifamily Housing: Physical and Financial Condition of Mark-to-Market At-Risk Properties
GAO-02-953: Published: Sep 6, 2002. Publicly Released: Sep 6, 2002.
In 1997, Congress established the mark-to-market program to help preserve the availability and affordability of low-income rental housing while also reducing the cost to the federal government of rental assistance provided to low-income households. The mark-to-market program was developed for multifamily properties that are both insured by the Federal Housing Administration (FHA) in the Department...
Mortgage Financing: Changes in the Performance of FHA-Insured Loans
GAO-02-773: Published: Jul 10, 2002. Publicly Released: Aug 9, 2002.
Federal Housing Administration (FHA) loans made in recent years have experienced somewhat higher foreclosure rates than loans made in earlier years. However, recent loans are performing much better than loans made in the 1980s. Although economic factors such as house price appreciation are key determinants of mortgage foreclosure, changes in underwriting requirements, as well as changes in the con...
Multifamily Housing: Improvements Needed in HUD's Oversight of Lenders That Underwrite FHA-Insured Loans
GAO-02-680: Published: Jul 19, 2002. Publicly Released: Aug 1, 2002.
Each year, the Federal Housing Administration (FHA) insures billions of dollars in multifamily housing mortgage loans to help construct, rehabilitate, purchase, and refinance apartments and health care facilities. However, the Department of Housing and Urban Development (HUD) lacks assurances that the lenders approved for the Multifamily Accelerated Processing (MAP) program always meet all of HUD'...
Single-Family Housing: Opportunities to Improve Federal Foreclosure and Property Sale Processes
GAO-02-305: Published: Apr 17, 2002. Publicly Released: May 17, 2002.
Federal programs in the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Rural Housing Service (RHS) promote mortgage financing for low-income, first-time, minority, veteran, and rural home buyers. Congress has also chartered private corporations--Fannie Mae and Freddie Mac--to provide mortgage lending and to promote homeownership opportunities. Many homeowner...
Mortgage Financing: Actuarial Soundness of the Federal Housing Administration's Mutual Mortgage Insurance Fund
GAO-02-671T: Published: Apr 24, 2002. Publicly Released: Apr 24, 2002.
The Housing Affordability for America Act of 2002 establishes risk-based capital requirements for the Mutual Mortgage Insurance Fund of the Federal Housing Administration (FHA). Through the fund, FHA operates a single-family insurance program that helps millions of Americans buy homes. The Fund's estimated value rose dramatically in 1999, prompting proposals to spend current resources or reduce ne...
Federal Housing Assistance: Comparing the Characteristics and Costs of Housing Programs
GAO-02-76: Published: Jan 31, 2002. Publicly Released: Jan 31, 2002.
For more than 60 years, the federal government has sought to improve the condition and reduce the cost of rental housing for poor Americans. In fiscal year 1999, 5.2 million low-income households received $28.7 billion in federal housing assistance through more than a dozen programs. Despite this assistance, the Department of Housing and Urban Development (HUD) estimates that 9 million other very-...
Managing for Results: Agency Progress in Linking Performance Plans With Budgets and Financial Statements
GAO-02-236: Published: Jan 4, 2002. Publicly Released: Jan 31, 2002.
This report updates GAO's previous assessments of agencies' experiences in linking performance plans and budgets under the Government Performance and Results Act of 1993 (GPRA). GAO has also included in this report an initial assessment of the approaches used by agencies to link performance plans with their audited annual financial statements. Over the first four years of agency efforts to impleme...
HUD Management: Progress Made on Management Reforms, but Challenges Remain
GAO-02-45: Published: Oct 31, 2001. Publicly Released: Oct 31, 2001.
In 1997, the Department of Housing and Urban Development (HUD) began a management reform effort, called the 2020 Management Reform Plan, to resolve its management and operational problems. GAO found that HUD has had some successes in implementing the management reforms, but challenges remain. Some initiatives, such as consolidating and streamlining operations, were achieved relatively quickly and...
Single-Family Housing: Current Information Systems Do Not Fully Support the Business Processes at HUD's Homeownership Centers
GAO-02-44: Published: Oct 24, 2001. Publicly Released: Oct 24, 2001.
The Federal Housing Administration's (FHA) homeownership centers use more than 20 different information systems implemented by the Department of Housing and Urban Development (HUD) headquarters, including seven major systems, databases developed by the centers, and various different telephone systems. Some of these technologies were implemented before FHA formed the centers and transferred some re...
Homeownership: Problems Persist With HUD's 203(k) Home Rehabilitation Mortgage Insurance Program
GAO-01-1124T: Published: Sep 10, 2001. Publicly Released: Sep 10, 2001.
The Department of Housing and Urban Development's (HUD) 203(K) Home Rehabilitation Mortgage Insurance Program helps promote the rehabilitation and repair of housing by combining, in one insured mortgage, the funds needed to purchase and rehabilitate a single-family home. The loans are made by banks and other private lenders from their own funds and are insured by HUD's Federal Housing Administrati...