Mortgages (71 - 80 of 131 items)
Housing Issues: The Housing and Community Development Act of 1994
T-RCED-94-148: Published: Mar 10, 1994. Publicly Released: Mar 10, 1994.
GAO discussed the various impacts of H.R. 3838, the Housing and Community Development Act. GAO noted that: (1) the act could improve monitoring, foster community economic development, and decrease loan defaults by increasing the number of grants available; (2) the act would increase homelessness assistance funding and promote program consolidation; (3) although the act would further promote the me...
Ginnie Mae: Greater Staffing Flexibility Needed to Improve Management
T-RCED-94-67: Published: Oct 29, 1993. Publicly Released: Oct 29, 1993.
GAO discussed the Government National Mortgage Association's (GNMA) staffing levels, focusing on GNMA: (1) management problems; (2) oversight of issuers; and (3) response to those management problems. GAO noted that: (1) GNMA has evolved from subsidizing interest rates for low- and moderate-income borrowers to attracting capital for government-insured and guaranteed homeowners loans; (2) GNMA guar...
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...
Tax Policy: Many Factors Contributed to the Growth in Home Equity Financing in the 1980s
GGD-93-63: Published: Mar 25, 1993. Publicly Released: Apr 28, 1993.
Pursuant to a congressional request, GAO reviewed the use of home equity financing, focusing on: (1) trends in home equity and mortgage-backed financing, and other types of consumer credit between 1981 and 1991; (2) causes of the growth in home equity financing; (3) problems caused by home equity financing; and (4) the implications of tax policy options to constrain home equity borrowing.GAO found...
Pension Plans: Investments in Affordable Housing Possible With Government Assistance
HRD-92-55: Published: Jun 12, 1992. Publicly Released: Jun 12, 1992.
Pursuant to a congressional request, GAO reviewed how pension funds are used to help finance affordable housing for low-and moderate-income families, focusing on: (1) the features and common elements of 15 affordable housing arrangements financed by pension funds; and (2) the expected rates of return on such housing investments.GAO found that: (1) the nature and extent of pension fund involvement...
Mortgage Credit Enhancements: Options for FHA in Meeting the Need for Affordable Multifamily Housing
T-RCED-92-52: Published: Apr 3, 1992. Publicly Released: Apr 3, 1992.
GAO discussed legislative or administrative actions that could improve the availability of mortgage financing for affordable multifamily housing through credit enhancements. GAO noted that: (1) the Federal Housing Administration (FHA) has historically been the federal government's principal provider of credit enhancements, but its insuring of mortgages has declined sharply in recent years from a h...
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...
Homeownership: Loan Policy Changes Made to Strengthen FHA's Mortgage Insurance Program
RCED-91-61: Published: Mar 1, 1991. Publicly Released: Mar 13, 1991.
Pursuant to a congressional request, GAO reviewed policy changes to the Federal Housing Administration's (FHA) single-family mortgage insurance program, focusing on the: (1) effect of the changes on the FHA Mutual Mortgage Insurance Fund's cash position; and (2) House-Senate Conference Committee on Housing Legislation's attempts to enact housing legislation.GAO found that: (1) the Fund's cash posi...
Impact of FHA Loan Policy Changes on Financial Losses and Homebuyers
T-RCED-90-95: Published: Jul 10, 1990. Publicly Released: Jul 10, 1990.
GAO discussed the impact of proposed policy changes to the Federal Housing Administration's (FHA) Mutual Mortgage Insurance (MMI) Fund on the Fund's cash position. GAO found that: (1) raising the mortgage ceiling to 95 percent of a state's median house price would have the greatest positive effect on the Fund's cash balance; (2) raising the mortgage ceiling will also generate the most new business...
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...