Department of Housing and Urban Development (51 - 60 of 1,387 items)
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2013 and 2012 Financial Statements
GAO-14-171R: Published: Dec 16, 2013. Publicly Released: Dec 16, 2013.
GAO found (1) the Federal Housing Finance Agency's (FHFA) financial statements as of and for the fiscal years ended September 30, 2013, and 2012, are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) FHFA maintained, in all material respects, effective internal control over financial reporting as of September 30, 2013; and (3) no repo...
Federal Employees: Opportunities Exist to Strengthen Performance Management Pilot
GAO-13-755: Published: Sep 12, 2013. Publicly Released: Nov 14, 2013.
GAO found that the GEAR framework generally addresses previously identified key practices for effective performance management, such as aligning individual performance expectations with organizational goals, but refinements could improve future government-wide implementation. Five federal agencies are piloting GEAR--the Departments of Energy (DOE), Homeland Security/Coast Guard (DHS/Coast Guard),...
Fiscal Exposures: Improving Cost Recognition in the Federal Budget
GAO-14-28: Published: Oct 29, 2013. Publicly Released: Oct 29, 2013.
Fiscal exposures may be explicit in that the federal government is legally required to pay for the commitment; alternatively, it may be implicit in that the exposure arises from expectations based on current policy or past practices. The nine programs GAO examined illustrate the range of federal fiscal exposures (see figure) and how they can change over time. Also, some programs may have elements...
Federal Housing Administration: Analysis of Options for Modifying Its Products, Market Presence, and Powers
GAO-13-682: Published: Sep 9, 2013. Publicly Released: Oct 22, 2013.
GAO identified a number of proposed options for adjusting product terms and conditions to help improve the Federal Housing Administration's (FHA) long-term viability. FHA has raised the premiums that it charges borrowers several times in recent years and has taken steps to tighten its underwriting standards--for example, by setting a minimum required credit score. Some mortgage market observers ha...
FHA Mortgage Insurance: Applicability of Industry Requirements Is Limited, but Certain Features Could Enhance Oversight
GAO-13-722: Published: Sep 9, 2013. Publicly Released: Oct 22, 2013.
Reserving practices and capital requirements for the Mutual Mortgage Insurance Fund (Fund) of the Federal Housing Administration (FHA) differ in key respects from those for private mortgage insurers (PMI). These differences stem from the distinct environments in which FHA and PMIs operate, including the particular accounting principles and statutory provisions that they must follow. For example, s...
Budget Issues: Key Questions to Consider When Evaluating Balances in Federal Accounts
GAO-13-798: Published: Sep 30, 2013. Publicly Released: Sep 30, 2013.
Carryover balances in fiscal year 2012 were $2.2 trillion, of which about $800 billion had not yet been obligated. Answering key questions during review of carryover balances provides insights into why a balance exists, what size balance is appropriate, and what opportunities (if any) for savings exist. Given that a single account may support a single program or multiple programs--or that multiple...
Rental Housing Assistance: HUD Data on Self-Sufficiency Programs Should Be Improved
GAO-13-581: Published: Jul 9, 2013. Publicly Released: Aug 8, 2013.
The Department of Housing and Urban Development (HUD) funds five key grant programs that encourage resident self-sufficiency. In fiscal year 2011, HUD awarded $113 million to the Housing Choice Voucher Family Self-Sufficiency (FSS), Public Housing FSS, and Resident Opportunity and Self-Sufficiency Service Coordinators (ROSS SC) programs. Public housing agencies (PHA) with HOPE VI grants or designa...
Federal Housing Administration: Improving Disposition and Oversight Practices May Increase Returns on Foreclosed Property Sales
GAO-13-542: Published: Jun 20, 2013. Publicly Released: Jul 22, 2013.
The Federal Housing Administration's (FHA) performance in selling its foreclosed properties--known as real estate-owned (REO) properties--lagged the performance of both of the government-sponsored enterprises (enterprises), Fannie Mae and Freddie Mac. FHA disposed of more than 400,000 properties from January 2007 through June 2012. Its combined 2007-2012 returns, measured by the net execution rate...
Moving to Work Demonstration: Improved Information and Monitoring Could Enhance Program Assessment
GAO-13-724T: Published: Jun 26, 2013. Publicly Released: Jun 26, 2013.
Opportunities existed to improve how the Department of Housing and Urban Development (HUD) evaluated the Moving to Work (MTW) program, which is intended to give participating public housing agencies (PHA) flexibility to design and test innovative strategies for providing housing assistance. GAO reported in April 2012 that HUD had not (1) developed guidance specifying that performance information c...
Transportation Infrastructure: Limited Improvement in Bridge Conditions over the Past Decade, but Financial Challenges Remain
GAO-13-713T: Published: Jun 13, 2013. Publicly Released: Jun 13, 2013.
There has been limited improvement in bridge conditions in the past decade, but a substantial number of bridges remain in poor condition. Of the 607,380 bridges on the nation's roadways in 2012, 1 in 4 was classified as deficient. Some are structurally deficient and have one or more components in poor condition and others are functionally obsolete and may no longer be adequate for the traffic they...