Department of Housing and Urban Development (71 - 80 of 1,387 items)
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...
Flexible Funding Continues to Play a Role in Supporting State and Local Transportation Priorities
GAO-13-19R: Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
From 2007 to 2011, FHWA apportioned about $53 billion in flexible funding to states, which is about 29 percent of total federal-aid highway funding apportioned to the states during that time. States transferred about $5 billion, or 10 percent of their apportioned flexible funding, to FTA for transit projects. Four states--California, New Jersey, New York, and Virginia--accounted for the majority o...
Public Transit: Funding for New Starts and Small Starts Projects, October 2004 through June 2012
GAO-13-40: Published: Nov 14, 2012. Publicly Released: Nov 14, 2012.
Local funding exceeded total federal funding contributions for the 25 New Starts projects, accounting for $16.3 billion, or almost half, of $33.8 billion of total project funding (see figure below) from October 2004 through June 2012. This outcome reflects the Federal Transit Administration's (FTA) policy to encourage project sponsors to seek less than 60 percent of the project's costs from New St...
Manufactured Housing Standards: Testing and Performance Evaluation Could Better Ensure Safe Indoor Air Quality
GAO-13-52: Published: Oct 24, 2012. Publicly Released: Oct 24, 2012.
Key standards for manufactured homes provide a lower margin of safety against a carbon monoxide exposure incident than those for site-built homes, which are constructed at their permanent locations. For instance, the Department of Housing and Urban Development (HUD) Code requires a minimum 3-foot separation between air intakes and exhaust vents, while industry standards for site-built homes have 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...
Housing Assistance: Opportunities Exist to Increase Collaboration and Consider Consolidation
GAO-12-554: Published: Aug 16, 2012. Publicly Released: Sep 17, 2012.
Housing assistance is fragmented across 160 programs and activities. Overlap exists for some products offered, service delivery, and geographic areas served by selected programsparticularly in the Department of Agricultures (USDA) Rural Housing Service (RHS) and Department of Housing and Urban Developments (HUD) Federal Housing Administration (FHA). For instance, RHS, FHA, and the Department...
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...
Rural Housing Service: Efforts to Identify and Reduce Improper Rental Assistance Payments Could Be Enhanced
GAO-12-624: Published: May 31, 2012. Publicly Released: Jul 2, 2012.
The Rural Housing Service (RHS) has identified improper rental assistance payments caused by certain sources of errors, but its reported error rate (total amount improperly paid divided by program outlays) may understate the magnitude of the problem. RHS has identified improper payments resulting from inaccurate calculations of tenant subsidies and incomplete supporting documents. From fiscal year...
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...