Financial management (21 - 30 of 39 items)
Homeownership: Mixed Results and High Costs Raise Concerns About HUD's Mortgage Assignment Program
RCED-96-2: Published: Oct 18, 1995. Publicly Released: Oct 31, 1995.
Pursuant to a congressional request, GAO reviewed whether the Housing and Urban Development's (HUD) mortgage assignment program: (1) helps borrowers avoid foreclosure; (2) reduces the Federal Housing Administration's (FHA) foreclosure losses; and (3) can be improved to reduce such losses.GAO found that: (1) HUD mortgage assignment program helps borrowers avoid immediate foreclosure, but is not suc...
Mortgage Financing: Financial Health of FHA's Home Mortgage Insurance Program Has Improved
T-RCED-94-255: Published: Jun 30, 1994. Publicly Released: Jun 30, 1994.
GAO discussed the actuarial soundness of the Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund. GAO noted that: (1) the fund's economic value has improved significantly in recent years and the fund is accumulating sufficient capital reserves to become actuarially sound; (2) the fund's economic net worth was $600 million at the end of fiscal year (FY) 1992 and $4.9 billion at th...
Multifamily Housing: Status of HUD's Multifamily Loan Portfolios
RCED-94-173FS: Published: Apr 12, 1994. Publicly Released: Apr 12, 1994.
Pursuant to a congressional request, GAO reviewed the financial status of the Department of Housing and Urban Development's (HUD) multifamily insured and assigned loan portfolios, focusing on the: (1) number of current and delinquent loans; (2) ratio of loan delinquencies to the unpaid principal balances; and (3) actions that HUD has taken to resolve the delinquencies.GAO found that: (1) about 97...
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...
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...
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...
Public Housing: Planned Kenilworth-Parkside Sale Raises Issues for Future Transactions
RCED-90-26: Published: Dec 1, 1989. Publicly Released: Dec 6, 1989.
GAO reviewed the District of Columbia's pending sale of the Kenilworth-Parkside public housing property to the Kenilworth-Parkside Resident Management Corporation, focusing on: (1) its plan to initiate resident management corporation (RMC) sales of individual units to tenants; (2) capital-producing approaches RMC could pursue after attaining ownership; and (3) the potential effects of RMC financia...
Thrift Industry: Trends in Thrift Industry Performance--December 1977 Through June 1987
GGD-88-87BR: Published: May 17, 1988. Publicly Released: May 17, 1988.
Pursuant to a legislative requirement, GAO provided information on the: (1) Federal Home Loan Bank Board's (FHLBB) Net Worth Certificate Program; and (2) condition of thrift institutions with the greatest potential for failure.GAO found that: (1) the legislative authority for the Net Worth Certificate Program expired in 1986, and FHLBB has not reinstated it; (2) although the total number of thrift...