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Community Planning and Development, Department of Housing and Urban Development, Executive (1 - 3 of 3 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...
Fannie Mae and Freddie Mac: Analysis of Options for Revising the Housing Enterprises' Long-term Structures
GAO-09-782: Published: Sep 10, 2009. Publicly Released: Sep 10, 2009.
Congress established Fannie Mae and Freddie Mac (the enterprises) with two key housing missions: (1) provide stability in the secondary market for residential mortgages (also in periods of economic stress) and (2) serve the mortgage credit needs of targeted groups such as low-income borrowers. To accomplish these goals, the enterprises issued debt and stock, purchased mortgages from lenders with t...
Homeownership: Loan Policy Changes Made to Strengthen FHA's Mortgage Insurance Program
RCED-91-61: Published: Mar 1, 1991. Publicly Released: Mar 13, 1991.
Pursuant to a congressional request, GAO reviewed policy changes to the Federal Housing Administration's (FHA) single-family mortgage insurance program, focusing on the: (1) effect of the changes on the FHA Mutual Mortgage Insurance Fund's cash position; and (2) House-Senate Conference Committee on Housing Legislation's attempts to enact housing legislation.GAO found that: (1) the Fund's cash posi...