Risk management (1 - 10 of 21 items)
Rural Housing Service: Progress on GAO Recommendations and Preliminary Observations on Loan Guarantee Risk Management
GAO-15-625T: Published: May 19, 2015. Publicly Released: May 19, 2015.
Overlap in housing assistance programs—particularly those of the Department of Agriculture's (USDA) Rural Housing Service (RHS) and the Department of Housing and Urban Development (HUD)—highlight opportunities for increased collaboration and consolidation. GAO's August 2012 report found overlap in the products offered and populations (income groups) and geographic areas served by RHS and HUD s...
Department of Housing and Urban Development: Opportunities to Improve Management of Mortgage Insurance and Rental Assistance Programs
GAO-13-439T: Published: Mar 14, 2013. Publicly Released: Mar 14, 2013.
The Department of Housing and Urban Development's (HUD) Federal Housing Administration (FHA) faces financial and risk-management challenges. For the fourth straight year, capital reserves for FHA's Mutual Mortgage Insurance Fund are below the statutory minimum. Also, declining balances in the fund's capital reserve account have heightened the possibility that FHA will require additional funds to h...
Ginnie Mae: Risk Management and Cost Modeling Require Continuing Attention
GAO-12-49: Published: Nov 14, 2011. Publicly Released: Dec 1, 2011.
The Government National Mortgage Association (Ginnie Mae) has increased its role in the secondary mortgage market significantly. Ginnie Mae is a wholly owned government corporation in the Department of Housing and Urban Development (HUD). It guarantees the timely payment of principal and interest of mortgage-backed securities (MBS) backed by pools of federally insured or guaranteed mortgage loans,...
Federal Housing Administration: Improvements Needed in Risk Assessment and Human Capital Management
GAO-12-15: Published: Nov 7, 2011. Publicly Released: Nov 7, 2011.
The Department of Housing and Urban Development's (HUD) Federal Housing Administration (FHA) has helped millions purchase homes by insuring private lenders against losses from defaults on FHA-insured single-family mortgages. In recent years, FHA has experienced a dramatic increase in its market role due, in part, to the contraction of other mortgage market segments. The increased reliance on FHA m...
Public Housing: HUD's Oversight of Housing Agencies Should Focus More on Inappropriate Use of Program Funds
GAO-09-33: Published: Jun 11, 2009. Publicly Released: Jun 11, 2009.
The Department of Housing and Urban Development (HUD) provided over $6.7 billion in fiscal year 2008 to housing agencies to operate, modernize, and develop about 1.2 million public housing units. It is important that HUD exercise sufficient oversight of housing agencies to help ensure that public housing funds are being used as intended and properly managed. In this report, GAO examines HUD's over...
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...
HUD Single-Family and Multifamily Property Programs: Inadequate Controls Resulted in Questionable Payments and Potential Fraud
GAO-04-390: Published: Mar 3, 2004. Publicly Released: Apr 2, 2004.
In our 2003 performance and accountability report on the Department of Housing and Urban Development (HUD), we continued to identify HUD's single-family (SF) mortgage insurance program as highrisk --an area we have found to be at high risk for fraud, waste, abuse, and mismanagement. Also, for years, GAO and HUD's Office of Inspector General (OIG) have reported weaknesses in HUD's contract administ...
Major Management Challenges and Program Risks: Department of Housing and Urban Development
GAO-01-248: Published: Jan 1, 2001. Publicly Released: Jan 1, 2001.
This report, part of GAO's performance and accountability series, discusses the major management challenges and program risks facing the Department of Housing and Urban Development (HUD). These challenges include reducing HUD's single-family insurance risk, improving HUD's rental housing assistance programs, and resolving issues related to information and financial management.Below are the reports...
HUD Management: Status of Actions to Resolve Serious Internal Control Weaknesses
GAO-01-103: Published: Oct 16, 2000. Publicly Released: Oct 16, 2000.
This report discusses the Department of Housing and Urban Development's (HUD) efforts to resolve serious internal control weaknesses. During the past several years, serious internal control weaknesses and other deficiencies have plagued HUD's activities. In 1997, HUD announced its 2020 Management Reform Plan to overcome the agency's problems. HUD has made reasonable progress toward resolving mater...
Management Challenges: Department of Housing and Urban Development
T-RCED-00-292: Published: Sep 26, 2000. Publicly Released: Sep 26, 2000.
Pursuant to a congressional request, GAO discussed the management challenges facing the Department of Housing and Urban Development (HUD), focusing on: (1) HUD's progress in addressing the major management challenges identified in the past and GAO's plans for updating the risk status of HUD's programs; (2) issues HUD faces in ensuring that the reforms it has implemented are sustainable and will re...