Banking (1 - 10 of 31 items)
Community Reinvestment Act: Challenges in Quantifying Its Effect on Low-Income Housing Tax Credit Investment
GAO-12-869R: Published: Aug 28, 2012. Publicly Released: Sep 27, 2012.
While CRA should increase investor demand for LIHTCs, quantifying the extent of any effect of CRA on LIHTC equity contributions is difficult given data and methodological challenges. In part because of the qualitative nature of the CRA investment test, regulatory ratings cannot be systematically linked to banks' LIHTC investments. Although a bank's overall rating and the associated narrative of it...
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...
Homelessness: Fragmentation and Overlap in Programs Highlight the Need to Identify, Assess, and Reduce Inefficiencies
GAO-12-491: Published: May 10, 2012. Publicly Released: May 10, 2012.
Homelessness programs are fragmented across multiple agencies and some show evidence of overlap. In fiscal year 2010, eight federal agencies obligated roughly $2.8 billion to administer 26 homelessness programs. Three agenciesthe Departments of Health and Human Services (HHS), Housing and Urban Development (HUD), and Veterans Affairs (VA)are responsible for the majority of programs and...
Recovery Act: Survey of State Housing Finance Agencies' Use of the Low-Income Housing Tax Credit Assistance Program (TCAP) and the Section 1602 Program
GAO-10-1022R: Published: Sep 20, 2010. Publicly Released: Sep 20, 2010.
In February 2009, Congress created two new programs as part of the American Recovery and Reinvestment Act of 2009 (Recovery Act): (1) the Tax Credit Assistance Program (TCAP) administered by the Department of Housing and Urban Development (HUD) and (2) the Grants to States for Low-Income Housing Projects in Lieu of Low-inome Housing Credits Program under Section 1602 of the Recovery Act (Section 1...
Native American Housing: GAO Survey of Tribal Housing Officials (GAO-10-373SP, February 2010), an E-supplement to GAO-10-326
GAO-10-373SP: Published: Feb 25, 2010. Publicly Released: Feb 25, 2010.
This document is an E-supplement to GAO-10-326. It presents the results of GAO's survey of tribal and tribally designated housing entity (TDHE) officials who were the recipients of Native American Housing Assistance and Self-Determination (NAHASDA) Indian Housing Block Grant (IHBG) funds in fiscal year 2008. In order to learn about these officials' experiences with and perspectives on the program,...
Public Housing: HUD's Oversight of HOPE VI Sites Needs to Be More Consistent
GAO-03-555: Published: May 30, 2003. Publicly Released: Jun 30, 2003.
Congress established the HOPE VI program to revitalize severely distressed public housing. In fiscal years 1993 to 2001, the Department of Housing and Urban Development (HUD) awarded approximately $4.5 billion in HOPE VI revitalization grants. The Ranking Minority Member, Subcommittee on Housing and Transportation, Senate Committee on Banking, Housing, and Urban\ Affairs, asked GAO to examine HUD'...
Multifamily Housing: Issues Related to Mark-to-Market Program Reauthorization
GAO-01-800: Published: Jul 11, 2001. Publicly Released: Jul 11, 2001.
The Office of Multifamily Housing Assistance Restructuring (OMHAR) administers the mark-to-market program, which was created to preserve the affordability of low-income rental housing while reducing the long-term costs of Section 8 project-based assistance. Legislative authorization for both the mark-to-market program and OMHAR is scheduled to terminate on September 30, 2001. If the legislative au...
HUD Inspector General: Actions Needed to Strengthen Management and Oversight of Operation Safe Home
GAO-01-794: Published: Jun 29, 2001. Publicly Released: Jun 29, 2001.
This report reviews the Department of Housing and Urban Development's (HUD) efforts to combat violent crime and drug trafficking in public housing through Operation Safe Home. GAO found that Operation Safe Home lacks the necessary information systems and management controls to ensure that HUD's Office of Inspector General (OIG) can readily monitor the obligation and expenditure of funds and track...
Housing and Urban Development: Comments on HUD's Fiscal Year 2002 Budget Request
GAO-01-663T: Published: Apr 25, 2001. Publicly Released: Apr 25, 2001.
GAO discussed the Department of Housing and Urban Development's (HUD) fiscal year 2002 budget request. Because HUD's 2002 budget request was released only two weeks before this testimony, GAO could only offer a general discussion of the budget's policy policy implications and program trade-offs. GAO found that, in recent years, HUD has had significant unexpended balances, making it difficult for C...
Mortgage Financing: FHA's Fund Has Grown, but Options for Drawing on the Fund Have Uncertain Outcomes
GAO-01-460: Published: Feb 28, 2001. Publicly Released: Mar 19, 2001.
The Mutual Mortgage Insurance Fund has maintained an economic value of at least two percent of the Fund's insurance-in-force, as required by law. GAO's and the Department of Housing and Urban Development's (HUD) analysis show that the Fund had an economic value of $15.8 billion (3.20 percent) and $16.6 billion (3.66 percent), respectively. Given the economic value of the Fund and the state of the...