Mortgage programs (11 - 20 of 296 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...
Troubled Asset Relief Program: Treasury Continues to Wind down Most Programs, but Housing Programs Remain Active
GAO-15-197: Published: Jan 6, 2015. Publicly Released: Jan 6, 2015.
The Department of the Treasury (Treasury) continues to wind down Troubled Asset Relief Program (TARP) nonhousing programs that were designed to support financial and automotive markets (see figure). As of September 30, 2014, Treasury had exited four of the nine nonhousing programs that were once active, and was managing assets totaling $2.9 billion under those remaining. Some programs have yielded...
Housing Finance System: A Framework for Assessing Potential Changes
GAO-15-131: Published: Oct 7, 2014. Publicly Released: Oct 7, 2014.
Developments in the single-family housing finance market from 2000-2013 led to changes in the federal government's role in the housing finance system and ultimately to a significant increase in that role. For example,Before the 2007-2009 financial crisis, the market share of nonprime mortgages—loans often made to borrowers with high-risk characteristics and funded by mortgage backed securities (...
Manufactured Housing: Efforts Needed to Enhance Program Effectiveness and Ensure Funding Stability
GAO-14-410: Published: Jul 2, 2014. Publicly Released: Aug 1, 2014.
HUD has established a process for updating the preemptive building standardsfor manufactured homes known as the HUD Code but has not fully met key purposes of the 2000 Manufactured Housing Improvement Act (2000 Act). Key purposes of the Act include:Establish a balanced, consensus-based process to update manufactured housing construction and safety standards. HUD has not accepted, rejected, or modi...
Programa Para Mitigar Activos Problemáticos: Es necesario un mayor esfuerzo en el control de préstamos equitativos y en el acceso a los programas de vivienda por parte de personas sin dominio del inglés
GAO-14-457: Published: Mar 31, 2014. Publicly Released: Mar 31, 2014.
This is the Spanish language highlights associated with GAO-14-117. Lo que encontró la GAOLa tasa de participación en el Programa de modificación de la accesibilidad a la vivienda (Home Affordable Modification Program o HAMP), un componente clave del programa Hacer la vivienda accesible (Making Home Affordable o MHA), alcanzó su ápice a principios de 2010, en general disminuyó durante 2011...
Troubled Asset Relief Program: More Efforts Needed on Fair Lending Controls and Access for Non-English Speakers in Housing Programs
GAO-14-117: Published: Feb 6, 2014. Publicly Released: Feb 6, 2014.
For the Spanish translation of the highlights page for this document, see GAO-14-457.What GAO FoundParticipation rates in the Home Affordable Modification Program (HAMP), a key component of the Making Home Affordable program (MHA), peaked in early 2010, generally declined during 2011, and remained relatively steady from 2012 through November 2013. As of November 2013, about 1.3 million borrowers h...
Servicemembers Civil Relief Act: Information on Mortgage Protections and Related Education Efforts
GAO-14-221: Published: Jan 28, 2014. Publicly Released: Jan 28, 2014.
The number of servicemembers with mortgages eligible for Servicemembers Civil Relief Act (SCRA) mortgage protections is unknown because servicers have not collected this information in a comprehensive manner. Based on the limited and nongeneralizeable information that GAO obtained from the three mortgage servicers and the credit union, a small percentage of the total loan portfolios were identifie...
Federal Housing Administration: Analysis of Options for Modifying Its Products, Market Presence, and Powers
GAO-13-682: Published: Sep 9, 2013. Publicly Released: Oct 22, 2013.
GAO identified a number of proposed options for adjusting product terms and conditions to help improve the Federal Housing Administration's (FHA) long-term viability. FHA has raised the premiums that it charges borrowers several times in recent years and has taken steps to tighten its underwriting standards--for example, by setting a minimum required credit score. Some mortgage market observers ha...
FHA Mortgage Insurance: Applicability of Industry Requirements Is Limited, but Certain Features Could Enhance Oversight
GAO-13-722: Published: Sep 9, 2013. Publicly Released: Oct 22, 2013.
Reserving practices and capital requirements for the Mutual Mortgage Insurance Fund (Fund) of the Federal Housing Administration (FHA) differ in key respects from those for private mortgage insurers (PMI). These differences stem from the distinct environments in which FHA and PMIs operate, including the particular accounting principles and statutory provisions that they must follow. For example, s...
Information on Defective Drywall
GAO-13-735R: Published: Jul 31, 2013. Publicly Released: Jul 31, 2013.
GAO found that numerous claims for damage have been addressed through legal settlements partly paid by commercial insurance reimbursements. Three of the four insurers with whom GAO spoke contributed to legal settlements by paying for CGL claims stemming from lawsuits against their policyholders, and one of these insurers also made payments for CGL claims separate from legal settlements. The legal...