Housing programs (11 - 20 of 137 items)
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...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2012 and 2011 Financial Statements
GAO-13-124R: Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
GAO found (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) the Federal Housing Finance Agency (FHFA) maintained, in all material respects, effective internal control over financial reporting as of September 30, 2012; and (3) no reportable noncompliance in fiscal year 2012 with provisions of laws and r...
Vacant Properties: Growing Number Increases Communities' Costs and Challenges
GAO-12-34: Published: Nov 4, 2011. Publicly Released: Dec 6, 2011.
Vacant and unattended residential properties can attract crime, cause blight, and pose a threat to public safety. While homeowners or mortgage owners--including the mortgage servicers that administer loans on behalf of loan owners--are responsible for maintaining vacant properties with mortgages undergoing foreclosure, the costs local governments incur to mitigate any unsafe conditions can be sign...
Federal Housing Administration: Risks to the Mutual Mortgage Insurance Fund and the Agency's Operations
GAO-12-277T: Published: Dec 1, 2011. Publicly Released: Dec 1, 2011.
The Federal Housing Administration (FHA) has helped millions purchase homes by insuring private lenders against losses from defaults on 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 mortgage insurance highlights the need for FHA to ensure that it...
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...
Homeownership Counseling: Although Research Suggests Some Benefits, Implementation and Evaluation Challenges Exist
GAO-11-925T: Published: Sep 14, 2011. Publicly Released: Sep 14, 2011.
Homeownership counseling can help consumers learn about buying a home and give them tools to deal with setbacks that could keep them from making timely mortgage payments. The Department of Housing and Urban Development (HUD) approves and provides grants to housing counseling agencies and has also implemented a requirement that borrowers seeking federally insured reverse mortgages through the Home...
Troubled Asset Relief Program: Results of Housing Counselors Survey on Borrowers' Experiences with the Home Affordable Modification Program
GAO-11-367R: Published: May 26, 2011. Publicly Released: May 26, 2011.
To restore stability and liquidity to the financial system, Congress established the $700 billion Troubled Asset Relief Program (TARP) and directed the Department of the Treasury (Treasury) to use the authorities granted under TARP to, among other things, preserve homeownership and protect home values. In February 2009, Treasury announced that up to $50 billion in TARP funds had been allocated to...
Troubled Asset Relief Program: Survey of Housing Counselors about the Home Affordable Modification Program (GAO-11-368SP, May 2011), an E-supplement to GAO-11-367R
GAO-11-368SP: Published: May 26, 2011. Publicly Released: May 26, 2011.
This e-publication supplements our correspondence TROUBLED ASSET RELIEF PROGRAM: Results of Housing Counselors Survey on Borrowers' Experiences with HAMP (GAO-11-367R). The purpose of this e-publication is to provide the results of a Web-based survey of housing counselors that we conducted between October 21 and November 5, 2010, as part of our work for the report. These counselors belonged to net...
The Housing Assistance Council's Use of Appropriated Funds
GAO-11-189R: Published: Dec 6, 2010. Publicly Released: Dec 6, 2010.
The Food, Conservation, and Energy Act of 2008 authorized appropriations of $10 million annually for the Housing Assistance Council (HAC) from fiscal years 2009 through 2011. Established in 1971, HAC is a nonprofit rural housing organization that aims to improve housing conditions for low-income rural residents, especially in high-need areas such as Indian country and Appalachia and among groups s...