Housing programs (81 - 90 of 516 items)
Federal Home Loan Banks: Too Soon to Tell the Potential Impact of Excess Stock Rule on the Affordable Housing Program
GAO-07-878R: Published: Jun 22, 2007. Publicly Released: Jun 22, 2007.
Affordable housing organizations and Federal Home Loan Bank (FHLBank) members have raised concerns that a Federal Housing Finance Board (FHFB) rule limiting excess stock could adversely impact FHLBank earnings. In particular, concerns have been raised regarding the FHLBanks' Affordable Housing Program (AHP), which subsidizes the cost of affordable housing with funds from the 12 FHLBanks, all of wh...
Public Housing: Information on the Financing, Oversight, and Effects of the HOPE VI Program
GAO-07-1025T: Published: Jun 20, 2007. Publicly Released: Jun 20, 2007.
Since fiscal year 1992, the Department of Housing and Urban Development (HUD) has awarded more than $6 billion in HOPE VI program grants to public housing authorities to revitalize severely distressed public housing and provide supportive services to residents. HUD has encouraged housing authorities to use their HOPE VI grants to attract, or leverage, funding from other sources, including other fe...
Project-Based Rental Assistance: HUD Should Update Its Policies and Procedures to Keep Pace with the Changing Housing Market
GAO-07-290: Published: Apr 11, 2007. Publicly Released: Apr 11, 2007.
In light of the pressing need for rental housing affordable to low-income households and concerns that the Department of Housing and Urban Development (HUD) may not be committed to maintaining its Section 8 project-based housing stock--a key source of such housing--Congress directed GAO to assess HUD's efforts to preserve its project-based housing and recommend ways to improve these efforts. This...
Federal Housing Administration: Ability to Manage Risks and Program Changes Will Affect Financial Performance
GAO-07-615T: Published: Mar 15, 2007. Publicly Released: Mar 15, 2007.
The Federal Housing Administration (FHA) has seen increased competition from conventional mortgage and insurance providers. Additionally, because of the worsening performance of the mortgages it insures, FHA has estimated that its single-family insurance program would require a subsidy--that is, appropriations--in fiscal year 2008 in the absence of program changes. To help FHA adapt to the evolvin...
Disaster Assistance: Better Planning Needed for Housing Victims of Catastrophic Disasters
GAO-07-88: Published: Feb 28, 2007. Publicly Released: Feb 28, 2007.
In 2005, Hurricanes Katrina and Rita destroyed thousands of homes and displaced over 1 million people. In light of widespread Congressional and public interest in U.S. agencies' performance in assisting hurricane victims, GAO initiated work under the Comptroller General's authority to examine federal housing assistance. Specifically, this report examines (1) the extent to which the National Respon...
Rental Housing Programs: Excluding Servicemembers' Housing Allowances from Income Determinations Would Increase Eligibility, but Other Factors May Limit Program Use
GAO-06-784: Published: Jul 31, 2006. Publicly Released: Jul 31, 2006.
Although the Department of Defense (DOD) pays active-duty servicemembers who do not live in military housing a Basic Allowance for Housing (BAH) to help them afford private market residences, expected growth at some military installations has raised concerns about whether nearby communities will have enough affordable rental housing for incoming personnel. In response to a congressional mandate, G...
HUD Homeownership Programs: Data Limitations Constrain Assessment of the American Dream Downpayment Initiative
GAO-06-677: Published: Jun 30, 2006. Publicly Released: Jun 30, 2006.
While at an all-time high level, homeownership remains out of reach for many Americans, especially low-income families and minorities. In 2003, Pub. L. No. 108-186 created the American Dream Downpayment Initiative (ADDI) to help low-income, first-time homebuyers cover the up-front costs of buying a home (up to the greater of $10,000 or 6 percent of the purchase price) and authorized funding throug...
Federal Housing Administration: Proposed Reforms Will Heighten the Need for Continued Improvements in Managing Risks and Estimating Program Costs
GAO-06-868T: Published: Jun 20, 2006. Publicly Released: Jun 20, 2006.
The Department of Housing and Urban Development's (HUD) Federal Housing Administration (FHA) has faced several challenges in recent years, including rising default rates, higher-than-expected program costs, and a sharp decline in program participation. To help FHA adapt to market changes, HUD has proposed a number of changes to the National Housing Act that would raise FHA's mortgage limits, allow...
Rental Housing Assistance: Policy Decisions and Market Factors Explain Changes in the Costs of the Section 8 Programs
GAO-06-405: Published: Apr 28, 2006. Publicly Released: May 30, 2006.
Annual appropriations for the Department of Housing and Urban Development's (HUD) Section 8 programs--a key federal tool for subsidizing rents of low-income households--have increased sharply in recent years, raising concerns about their cost. Section 8 pays the difference between a unit's rent and the household's payment (generally 30 percent of adjusted income). Section 8 includes a voucher prog...
Military Housing: Management Issues Require Attention as the Privatization Program Matures
GAO-06-438: Published: Apr 28, 2006. Publicly Released: Apr 28, 2006.
The Department of Defense (DOD) intends to privatize about 87 percent of the military-owned housing in the United States by 2010. As of December 2005, it had awarded 52 projects to privatize over 112,000 family housing units and had plans to award 57 more projects to privatize over 76,000 more units over the next 4 years. The program, begun in 1996, has become DOD's primary means to improve family...