Economic development (11 - 20 of 44 items)
Federal Housing Administration: Monitoring of Single Family Mortgages Needs Improvement
RCED-91-11: Published: Feb 7, 1991. Publicly Released: Feb 7, 1991.
GAO reviewed the Federal Housing Administration's (FHA) Section 203(b) mortgage insurance program for single family homes, focusing on how FHA field offices monitored the processing and approval of program participant applications.GAO found that: (1) because FHA lacked a comprehensive description of monitoring program activities, GAO identified and reviewed 25 monitoring activities which FHA used...
Home Ownership: Limiting Mortgage Assistance Provided to Owners With High-Income Growth
RCED-90-117: Published: Sep 26, 1990. Publicly Released: Sep 26, 1990.
Pursuant to a legislative requirement, GAO provided information on provisions for qualified mortgage bond and mortgage credit certificate assistance, focusing on the recapture mechanism.GAO found that: (1) many assisted owners will use a higher recapture rate than the interest-rate reduction they received when computing their recapture amount, since most assisted owners had a mortgage interest red...
Rental Housing: Housing Vouchers Cost More Than Certificates but Offer Added Benefits
RCED-89-20: Published: Feb 16, 1989. Publicly Released: Mar 2, 1989.
Pursuant to a congressional request, GAO provided information on the: (1) costs of the Department of Housing and Urban Development's (HUD) section 8 existing certificate and housing voucher programs; and (2) adequacy of HUD fair-market rents and their impact on tenant rent burdens.GAO found that: (1) although the voucher and certificate programs had the similar goal of subsidizing private rental h...
Public Housing: Problems Continue To Plague the Cuyahoga Metropolitan Housing Authority
RCED-88-122: Published: Apr 20, 1988. Publicly Released: Jun 14, 1988.
In response to a congressional request, GAO reviewed the Cuyahoga Metropolitan Housing Authority's (CMHA) operations, focusing on: (1) previously identified CMHA problems; (2) its controls over the expenditure of federal housing funds; and (3) problems in its administration of the Department of Housing and Urban Development's (HUD) Section 8 Moderate Rehabilitation Program.GAO analyzed eight repor...
Housing Programs: Funding Approach for HUD's Section 8 Certificate Program Needs Changing
RCED-88-136: Published: Apr 18, 1988. Publicly Released: Apr 19, 1988.
In response to a congressional request, GAO provided information on the adequacy of the Department of Housing and Urban Development's (HUD) funding approach for its Section 8 Existing Rental Assistance Certificate Program, focusing on: (1) the potential shortfall in program funds; (2) whether HUD adequately compensated state and local public housing agencies (PHA) for their costs; and (3) how PHA...
Home Ownership: Mortgage Bonds Are Costly and Provide Little Assistance to Those in Need
RCED-88-111: Published: Mar 28, 1988. Publicly Released: Mar 28, 1988.
In response to a congressional request, GAO provided information on the role of qualified mortgage bonds in providing financing for first-time home buyers, specifically: (1) the extent to which they assisted low- and moderate-income buyers; and (2) how states are allocating issuance authority under the mandated cap.GAO found that: (1) about two-thirds of the 177,786 buyers who received bond-assist...
Internal Controls: Weaknesses in HUD's Single Family Housing Appraisal Program
RCED-87-165: Published: Sep 30, 1987. Publicly Released: Sep 30, 1987.
GAO analyzed the Department of Housing and Urban Development's (HUD) efforts to correct weaknesses in its single-family housing appraisal program.GAO found that HUD: (1) selected appraisals for review without a systematic, statistical sample; (2) did not meet the requirements of its present review program; and (3) used fee appraisers to perform field reviews of other appraisers' work, despite indi...
Internal Controls: Indian Housing Controls Improved But Need Strengthening
RCED-87-148: Published: Aug 5, 1987. Publicly Released: Aug 5, 1987.
GAO reviewed the Bureau of Indian Affairs' (BIA) actions to correct weaknesses in its Housing Improvement Program (HIP), which provides grants to Indian families living in substandard or inadequate housing to: (1) make repairs; (2) make down payments for home purchases; and (3) finance construction of new homes.GAO noted that, in response to the Department of the Interior Inspector General's recom...
Rural Housing: Impact of Refinancing and Selling FmHA Section 502 Homeownership Loans
RCED-87-54: Published: Mar 31, 1987. Publicly Released: Mar 31, 1987.
GAO reported on the Department of Agriculture (USDA) Farmers Home Administration's (FmHA) plan to sell rural homeownership loans, and compared the impact on revenues of selling or refinancing the loans.The Omnibus Budget Reconciliation Act of 1986 requires the Secretary of Agriculture to sell loans to the public to reduce fiscal year 1987 federal outlays by over $1.7 billion. GAO noted that the Ho...
Rental Housing: HUD's Methods of Determining Fair Market Rents
RCED-86-209: Published: Aug 22, 1986. Publicly Released: Aug 26, 1986.
In response to a congressional request, GAO reviewed the Department of Housing and Urban Development's (HUD) method of determining fair market rents for its rental assistance program.GAO found that: (1) HUD establishes the base level of rent by using the census, the American Housing Survey, and the consumer price index; (2) because HUD recognizes that limitations exist in its data, its procedures...