Financial management (71 - 80 of 135 items)
Homeownership: Actuarial Soundness of FHA's Single-Family Mortgage Insurance Program
T-RCED-93-64: Published: Jul 27, 1993. Publicly Released: Jul 27, 1993.
GAO discussed the actuarial soundness of the Mutual Mortgage Insurance Fund, which is administered by the Federal Housing Administration (FHA). GAO noted: (1) poor program management, waste, fraud, and abuse have contributed to the losses sustained by the fund; (2) the absence of internal controls over FHA single-family property disposition management systems has allowed private real estate agents...
Urban Poor: Tenant Income Misreporting Deprives Other Families of HUD-Subsidized Housing
HRD-92-60: Published: Jul 17, 1992. Publicly Released: Jul 17, 1992.
Pursuant to a congressional request, GAO provided information on the Department of Housing and Urban Development's (HUD) internal controls to ensure proper reporting of subsidized households' income, focusing on: (1) a one-time computer match of subsidized household records with federal tax records to determine household income reporting accuracy; and (2) the extent of federal tax data used to ver...
Pension Plans: Investments in Affordable Housing Possible With Government Assistance
HRD-92-55: Published: Jun 12, 1992. Publicly Released: Jun 12, 1992.
Pursuant to a congressional request, GAO reviewed how pension funds are used to help finance affordable housing for low-and moderate-income families, focusing on: (1) the features and common elements of 15 affordable housing arrangements financed by pension funds; and (2) the expected rates of return on such housing investments.GAO found that: (1) the nature and extent of pension fund involvement...
Advance Sheets: Volume 72, Decisions of the Comptroller General of the United States
148654: Jan 1, 1992
GAO published advance sheets for its monthly digest of Comptroller General decisions for the period October 1992 to December 1992, which is found in Volume 72...
Financial Management: Analysis of Selected VA and FHA Housing Program Accounting Methods
AFMD-92-8: Published: Nov 25, 1991. Publicly Released: Nov 25, 1991.
Pursuant to a congressional request, GAO compared certain accounting methods used by the Department of Veterans Affairs' (VA) housing credit assistance program with those the Federal Housing Administration uses for its Mutual Mortgage Insurance (MMI) Fund, focusing on how each agency handles: (1) losses from guaranteed or insured loans; (2) revenue from loan guarantee fees and insurance premiums;...
Financial Audit: VA Housing Credit Assistance Program Financial Statements for Fiscal Years 1989 and 1988
AFMD-92-2: Published: Oct 24, 1991. Publicly Released: Oct 24, 1991.
Pursuant to a congressional request, GAO reviewed the Department of Veterans Affairs' (VA) housing assistance program financial statements for the fiscal years ended September 30, 1989 and 1988.GAO found that: (1) the VA housing assistance program financial statements presented fairly the financial position of the program as of September 30, 1989 and 1988, and the results of its operations for the...
Federal Home Loan Mortgage Corporation: Abuses in Multifamily Program Increase Exposure to Financial Losses
RCED-92-6: Published: Oct 7, 1991. Publicly Released: Oct 15, 1991.
Pursuant to a congressional request, GAO examined whether the Federal Home Loan Mortgage Corporation's (Freddie Mac) procedures governing the purchasing and servicing of 35 Bronx, New York, multifamily mortgages adequately protected its investments.GAO found that: (1) because of weak controls, Freddie Mac did not detect patterns of inaccurate and incomplete information in the appraisals and report...
Navy Housing: Transient Lodging Operations Need Effective Management Control
NSIAD-92-27: Published: Oct 3, 1991. Publicly Released: Oct 3, 1991.
Pursuant to a congressional request, GAO determined whether the Navy is efficiently operating its transient lodging facilities.GAO found that: (1) although the Navy is required to lodge transient personnel on base whenever possible, it is not doing so; (2) travel costs are higher than necessary due to weaknesses in the Navy's reservation system that allow for the authorization of off-base per diem...
HUD Reforms: Limited Progress Made Since the HUD Scandals
T-RCED-91-62: Published: Jun 12, 1991. Publicly Released: Jun 12, 1991.
GAO discussed the Department of Housing and Urban Development's (HUD) progress in correcting the widespread fraud, waste, abuse, and mismanagement that was uncovered in 1989. GAO noted that: (1) it was too early to determine whether reforms would be effective in correcting targeted problems; (2) such HUD problems as inadequate information and financial management systems, weak internal controls, i...
Property Disposition: Information on Federal Single-Family Properties
RCED-91-69: Published: Mar 29, 1991. Publicly Released: Apr 9, 1991.
Pursuant to a congressional request, GAO reviewed single-family property disposition activities of the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Farmers Home Administration (FmHA), and the Resolution Trust Corporation (RTC), focusing on: (1) the number of single-family properties acquired and sold, the losses associated with those sales, and current invento...