Loan defaults (31 - 40 of 42 items)
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...
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...
Housing Programs: Increased Use of Alternatives to Foreclosure Could Reduce VA's Losses
RCED-90-4: Published: Dec 20, 1989. Publicly Released: Jan 16, 1990.
Pursuant to a congressional request, GAO reviewed the Department of Veterans Affairs' (VA) loan termination process for VA-guaranteed mortgages, focusing on how changes in VA practices could reduce the number and cost of foreclosures.GAO found that: (1) VA lost $465 million on foreclosed homes it acquired and resold during fiscal year (FY) 1987; (2) VA predominantly used foreclosure to liquidate d...
Internal Controls: Weaknesses in HUD's Single Family Housing Appraisal Program
RCED-87-165: Published: Sep 30, 1987. Publicly Released: Sep 30, 1987.
GAO analyzed the Department of Housing and Urban Development's (HUD) efforts to correct weaknesses in its single-family housing appraisal program.GAO found that HUD: (1) selected appraisals for review without a systematic, statistical sample; (2) did not meet the requirements of its present review program; and (3) used fee appraisers to perform field reviews of other appraisers' work, despite indi...
Housing Programs: Agency Actions To Discourage Single Family Mortgage Insurance Fraud
RCED-86-172BR: Published: Jun 3, 1986. Publicly Released: Jul 3, 1986.
In response to a congressional request, GAO examined the Department of Housing and Urban Development's (HUD) actions to determine if they addressed previously examined internal control issues and recommendations concerning allegations of abuse of HUD-insured mortgage loans.GAO found that HUD: (1) took significant steps, consistent with earlier GAO recommendations, to discourage fraud and abuse in...
Weaknesses in Servicing and Accounting for Home Mortgages Held by HUD
FGMSD-79-41: Published: Aug 16, 1979. Publicly Released: Aug 16, 1979.
The number and value of mortgages held by the Department of Housing and Urban Development (HUD) increased from 8,103, valued at about $117 million in 1977, to 10,022 valued at over $151 million in 1979. HUD did not have adequate plans for such a sizable workload increase, and consequently, the program has been hampered by accounting and mortgage servicing problems.As a result of the HUD accounting...
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...
Review of the Farmers Home Administration's Practices Concerning Credit Reports for Mortgage Loans and Agricultural Loans
RED-75-314: Published: Dec 24, 1974. Publicly Released: Dec 24, 1974.
No summary is currently available...