Housing (71 - 80 of 82 items)
HUD Should Make Immediate Changes in Accounting for Secretary-Held Multifamily Mortgages
FGMSD-80-43: Published: May 16, 1980. Publicly Released: May 16, 1980.
The Department of Housing and Urban Development (HUD) holds over 2,000 multifamily mortgages valued at about $3.7 billion. These Secretary-held mortgages were either returned from commercial lenders after mortgagors defaulted on their insured mortgages or resulted from HUD selling property it had previously acquired.As of September 30, 1979, HUD reported that $500 million in payments on multifamil...
Better Cash Management Needed in HUD's Section 312 Housing Rehabilitation Loan Program
CED-80-74: Published: Mar 28, 1980. Publicly Released: Apr 28, 1980.
A review was made of the Department of Housing and Urban Development's (HUD) cash management procedures for administering the rehabilitation loan program authorized by section 312 of the Housing Act of 1964. The program provides direct low-interest, long-term loans to property owners in approved areas. Local public agencies (LPA's) are responsible for loan processing leading up to and following se...
Action Being Taken To Correct Weaknesses in the Rehabilitation Loan Program
FGMSD-79-14: Published: Mar 14, 1979. Publicly Released: Mar 14, 1979.
The Department of Housing and Urban Development (HUD) has outstanding loans of almost $334 million under its Rehabilitation Loan Program. Of the $334 million, over $53 million has already been returned to HUD as defaulted delinquent accounts and approximately $49 million may ultimately be returned as defaulted delinquent. The Rehabilitation Loan Program provides direct low-cost loans to property o...
Domestic Housing and Community Development: Issues for Planning
CED-79-44: Published: Feb 5, 1979. Publicly Released: Feb 5, 1979.
The critical housing and community development issues facing the nation are identified. Of the 19 areas of concern, 8 are considered to be priority areas. The following housing-related priority areas are: evaluation of the nation's efforts to house lower-income families; minimizing subsidized housing operating costs and improving management; evaluation of federal efforts to encourage the productio...
What Was the Effect of the Emergency Housing Program on Single-Family Housing Construction?
CED-78-155: Published: Nov 21, 1978. Publicly Released: Nov 21, 1978.
The goal of the emergency housing program was to stabilize the housing market against cyclical downturns by increasing the supply of reasonably priced mortgage credit, thus increasing the demand for new homes.The emergency housing program for single-family homes has helped many to buy homes and has generated additional housing and jobs during a depressed period for the housing industry. However, m...
Agency for International Development's Housing Investment Guaranty Program
ID-78-44: Published: Sep 6, 1978. Publicly Released: Sep 6, 1978.
Under the Agency for International Development's (AID's) Housing Investment Guaranty Program (HIG), U.S. private lenders provide long-term financing at commercial interest rates for housing projects undertaken by developing countries with AID assistance. The U.S. Government provides a "full faith and credit" guaranty of repayment of principal and interest. Since its inception in 1976, the HIG prog...
Condominium Homeownership Opportunities Could Be Increased
CED-78-71: Published: Mar 21, 1978. Publicly Released: Mar 21, 1978.
The growth in condominium ownership and its advantages have led to the enactment of legislation authorizing condominium financing programs for the Department of Housing and Urban Development (HUD), the Veterans Administration (VA), and the Farmers Home Administration (FmHA).Because of statutory limitations, opportunities for financing are still not readily available to condominium buyers. HUD can...
Construction Problems at the HUD-Insured Naugatuck Apartments Housing Project
CED-78-40: Published: Jan 31, 1978. Publicly Released: Jan 31, 1978.
The Department of Housing and Urban Development's (HUD) multifamily housing project in Naugatuck, Connecticut, was begun in 1971. During the early stages of construction, the excavation and construction contractors began having problems with the project. The excavation contractor alleged that test boring results showing the subsoil conditions were false. The construction contractor discovered that...
Large Savings Possible in Mortgage Insurance Premium Payment System
103113: Aug 24, 1977
Much money can be saved by eliminating, reducing, or simplifying the Department of Defense (DOD) program of paying its employees' mortgage insurance premiums to the Department of Housing and Urban Development. (HUD)The salary costs of HUD and DOD employees involved in billing and paying premiums amount to $700,000, while annual premiums paid by DOD to HUD amount to $2.6 million. To transfer funds...
The Need for HUD to More Fairly Treat Homeowner Claims for Defects in Existing Insured Homes
101956: Apr 15, 1977
At the request of Rep. Ralph H. Metcalfe, the Department of Housing and Urban Development's Section 518(b) Homeowner Assistance Program operated by the Chicago Area Office was reviewed. Criteria used to evaluate claim applications for defects in existing insured homes were identified, and the appeals process for the applicants was assessed. Procedures for processing the claims require a determinat...