Housing (1 - 4 of 4 items) in Past Year
Information Technology: HUD Needs to Address Significant Weaknesses in Its Cost Estimating Practices
GAO-17-281: Published: Feb 7, 2017. Publicly Released: Feb 7, 2017.
The cost estimates that the Department of Housing and Urban Development (HUD) developed for the four selected information technology (IT) investments were unreliable and, thus, lacked a sound basis for informing the department's investment and budgetary decisions. GAO's Cost Estimating and Assessment Guide (Cost Guide) defines best practices that are associated with four characteristics of a rel...
Troubled Asset Relief Program: Status of Housing Programs
GAO-17-236: Published: Jan 9, 2017. Publicly Released: Jan 9, 2017.
As of October 31, 2016, the Department of the Treasury (Treasury) had disbursed $22.6 billion (60 percent) of the $37.51 billion Troubled Asset Relief Program (TARP) funds obligated to the three housing programs (see fig.).The Making Home Affordable (MHA) program allowed homeowners to apply for loan modifications to avoid foreclosure. Under this program, which was closed to applicants on December...
Federal Housing Finance Agency: Objectives Needed for the Future of Fannie Mae and Freddie Mac After Conservatorships
GAO-17-92: Published: Nov 17, 2016. Publicly Released: Nov 17, 2016.
The Federal Housing Finance Agency (FHFA) issued a new strategic plan for the conservatorships of Fannie Mae and Freddie Mac (the enterprises) in 2014 with reformulated goals and supporting actions that reflect a shift in priorities and changing market conditions. While the three goals in the 2014 strategic plan are broadly similar to those in the previous plan issued in 2012, FHFA changed the wei...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2016 and 2015 Financial Statements
GAO-17-139R: Published: Nov 15, 2016. Publicly Released: Nov 15, 2016.
GAO found (1) the Federal Housing Finance Agency's (FHFA) financial statements as of and for the fiscal years ended September 30, 2016, and 2015, 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, 2016; and (3) no repo...