Department of Housing and Urban Development (81 - 90 of 1,387 items)
Residential Appraisals: Regulators Should Take Actions to Strengthen Appraisal Oversight
GAO-12-840T: Published: Jun 28, 2012. Publicly Released: Jun 28, 2012.
Data GAO obtained from Fannie Mae and Freddie Mac (the enterprises) and five of the largest mortgage lenders indicate that appraisalswhich provide an estimate of market value at a point in timeare the most commonly used valuation method for first-lien residential mortgage originations. Other methods, such as broker price opinions and automated valuation models, are quicker and less cos...
Recovery Act: Tax Debtors Have Received FHA Mortgage Insurance and First-Time Homebuyer Credits
GAO-12-592: Published: May 29, 2012. Publicly Released: Jun 27, 2012.
The Federal Housing Administration (FHA) insured over $1.44 billion in mortgages for 6,327 borrowers with $77.6 million in federal tax debt who benefited from the 2009 American Recovery and Reinvestment Act. Of these borrowers, 3,815 individuals claimed and received $27.4 million in Recovery Act First-Time Homebuyer Credits (FTHBC). This analysis includes tax debtors who (1) benefited from FHAs...
Veteran Homelessness: VA and HUD Are Working to Improve Data on Supportive Housing Program
GAO-12-726: Published: Jun 26, 2012. Publicly Released: Jun 26, 2012.
The Department of Veterans Affairs (VA) and Department of Housing and Urban Development (HUD) rely on VA medical centers (VAMC) and public housing agencies (PHA) that serve veterans directly to determine participant eligibility for the HUD-VA Supportive Housing (HUD-VASH) program. VAMC staff GAO contacted said that they interview veterans interested in the HUD-VASH program to assess whether the ve...
Recovery Act: Housing Programs Met Spending Milestones, but Asset Management Information Needs Evaluation
GAO-12-634: Published: Jun 18, 2012. Publicly Released: Jun 18, 2012.
Almost all public housing authorities (PHA) met their spending deadlines for the Public Housing Capital Fund formula and competitive grant programs. As mandated, all but one PHA spent 100 percent of their formula grants by March 17, 2012. According to Department of Housing and Urban Development (HUD) officials, PHAs with competitive grants were on track to meet their September 2012 spending deadli...
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...
Information Technology: HUD's Fiscal Year 2011 Expenditure Plan Satisfies Statutory Conditions
GAO-12-654: Published: May 24, 2012. Publicly Released: May 24, 2012.
HUDs fiscal year 2011 expenditure plan, which seeks to obligate about $114 million for seven modernization projects, along with enterprisewide services and program management, satisfies both sets of statutory conditions contained in the 2011 appropriations act. Specifically, for the first set of statutory conditions, the plan identified the functional and performance capabilities, mission be...
Moving to Work Demonstration: Opportunities Exist to Improve Information and Monitoring
GAO-12-490: Published: Apr 19, 2012. Publicly Released: May 21, 2012.
Public housing agencies (PHA) that participate in the Moving to Work (MTW) program report annually on the performance of their activities, which include efforts to reduce administrative costs and encourage residents to work. But this performance information varies, and the Department of Housing and Urban Developments (HUD) guidance does not specify that it be quantifiable and outcome oriente...
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...
HUD Has Identified Performance Measures for Its Block Grant Programs, but Information on Impact Is Limited
GAO-12-575R: Published: May 15, 2012. Publicly Released: May 15, 2012.
Information on the overall effectiveness (or impact) of the CDBG and HOME programs is limited. According to HUD officials, the agency has faced challenges in evaluating the impact of CDBG and HOME because, among other things, such an evaluation would have to compare neighborhoods that received program assistance with those that did not. Our previous work has also identified the difficulties of eva...