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Housing (21 - 30 of 1,247 items)
Lender-Placed Insurance: More Robust Data Could Improve Oversight
GAO-15-631: Published: Sep 8, 2015. Publicly Released: Sep 8, 2015.
Mortgage servicers purchase lender-placed insurance (LPI) for mortgages whose borrower-purchased insurance coverage lapses, most often because of nonpayment by the borrower or cancellation or nonrenewal by the original insurer. The limited information available indicates that LPI generally affects 1 percent to 2 percent of all mortgaged properties annually and has become less prevalent since the 2...
Mortgage Reforms: Actions Needed to Help Assess Effects of New Regulations
GAO-15-185: Published: Jun 25, 2015. Publicly Released: Jul 27, 2015.
Federal agency officials, market participants, and observers estimated that the qualified mortgage (QM) and qualified residential mortgage (QRM) regulations would have limited initial effects because most loans originated in recent years largely conformed with QM criteria.The QM regulations, which address lenders' responsibilities to determine a borrower's ability to repay a loan, set forth standa...
Low-Income Housing Tax Credit: Joint IRS-HUD Administration Could Help Address Weaknesses in Oversight
GAO-15-330: Published: Jul 15, 2015. Publicly Released: Jul 23, 2015.
Internal Revenue Service (IRS) oversight of the Low-Income Housing Tax Credit (LIHTC) program has been minimal. Specifically, since 1986 IRS conducted seven audits of 56 state housing finance agencies (HFA) on which IRS relies to administer and oversee the program. (HFAs are state-chartered authorities established to meet affordable housing needs.) Federal internal control standards call for monit...
HUD Public and Indian Housing Programs: Progress on Prior GAO Recommendations to Enhance Accountability and Efficiency
GAO-15-747T: Published: Jul 10, 2015. Publicly Released: Jul 10, 2015.
As of June 2015, the Department of Housing and Urban Development (HUD) had addressed some of GAO's 16 prior recommendations for four programs: Moving to Work (MTW), Family Self-Sufficiency (FSS), Housing Choice Voucher (voucher), and Indian Housing Block Grant (IHBG). But other recommendations require further attention. Specifically:HUD has addressed seven of eight recommendations GAO made in Apri...
Troubled Asset Relief Program: Treasury Could More Consistently Analyze Potential Benefits and Costs of Housing Program Changes
GAO-15-670: Published: Jul 6, 2015. Publicly Released: Jul 6, 2015.
Between February 2009 and May 2015, the U.S. Department of the Treasury (Treasury) disbursed approximately $16.3 billion of the $37.5 billion in Troubled Asset Relief Program (TARP) funds allocated to support housing programs. The number of new borrowers with permanent modifications added to the Home Affordable Modification Program (HAMP), the key component of these programs, began to decline in l...
Older Adults: Federal Strategy Needed to Help Ensure Efficient and Effective Delivery of Home and Community-Based Services and Supports
GAO-15-190: Published: May 20, 2015. Publicly Released: May 20, 2015.
Five federal agencies within four departments fund home and community-based services and supports that older adults often require to continue living independently in their own homes and communities. The Administration on Aging (AoA) and Centers for Medicare & Medicaid Services (CMS) in the Department of Health and Human Services (HHS), and the Departments of Housing and Urban Development (HUD), Tr...
Rural Housing Service: Progress on GAO Recommendations and Preliminary Observations on Loan Guarantee Risk Management
GAO-15-625T: Published: May 19, 2015. Publicly Released: May 19, 2015.
Overlap in housing assistance programs—particularly those of the Department of Agriculture's (USDA) Rural Housing Service (RHS) and the Department of Housing and Urban Development (HUD)—highlight opportunities for increased collaboration and consolidation. GAO's August 2012 report found overlap in the products offered and populations (income groups) and geographic areas served by RHS and HUD s...
Persons with HIV: Funding Formula for Housing Assistance Could Be Better Targeted, and Performance Data Could Be Improved
GAO-15-298: Published: Apr 16, 2015. Publicly Released: Apr 16, 2015.
The extent to which persons with human immunodeficiency virus (HIV) need housing assistance is not known, in part because the Department of Housing and Urban Development's (HUD) estimate of the housing needs of persons with HIV, including those with Acquired Immune Deficiency Syndrome (AIDS), is not reliable. HUD does not require Housing Opportunities for Persons with AIDS (HOPWA) grantees to use...
Data Use and Regulatory Status of the Indian Housing Block Grant Program
GAO-15-353R: Published: Mar 10, 2015. Publicly Released: Apr 9, 2015.
Allocations for the Indian Housing Block Grant (IHBG) program, administered by the Department of Housing and Urban Development (HUD), are based on a funding formula that accounts for, among other things, housing stock (the costs of operating and modernizing HUD-funded housing units developed prior to the enactment of the Native American Housing Assistance and Self-Determination Act of 1996) and po...
Military Base Realignments and Closures: Process for Reusing Property for Homeless Assistance Needs Improvements
GAO-15-274: Published: Mar 16, 2015. Publicly Released: Mar 16, 2015.
A variety of homeless assistance was provided as a result of the 2005 round of base realignments and closures (BRAC), but the Departments of Defense (DOD) and Housing and Urban Development (HUD) do not require homeless assistance conveyance data to be tracked. Of the 125 large and small bases closed with surplus property, local redevelopment authorities (LRA) at 39 bases agreed to provide homeless...