Interest rates (21 - 30 of 32 items)
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...
Financial Audit: Federal Housing Administration Fund's 1987 Statement of Financial Position
AFMD-89-3: Published: May 12, 1989. Publicly Released: May 12, 1989.
Pursuant to a legislative requirement, GAO reviewed the Federal Housing Administration (FHA) Fund's consolidated statement of financial position as of September 30, 1987.GAO found that the FHA Fund's consolidated statement of financial position fairly presented its financial position as of September 30, 1987, in conformity with generally accepted accounting principles...
Borrowers Pay Lower Effective Interest Rates for Large Conventional Mortgage Loans
RCED-84-151: Published: Apr 5, 1984. Publicly Released: Apr 5, 1984.
In response to a congressional request, GAO determined: (1) what proportion of conventional mortgage loans exceeded the statutory conforming loan limit of $108,300 in 1983; (2) how interest rates and fees paid by borrowers for conventional loans which exceeded the 1983 limit differed from those paid by borrowers for conventional conforming loans; and (3) what income a hypothetical borrower would n...
Excessive Assumption Fees Charged on Federal Home Loan Mortgage Corporation Mortgages
RCED-84-119: Published: Mar 5, 1984. Publicly Released: Mar 12, 1984.
In response to a congressional request, GAO investigated the fees, points, and other charges levied by lenders on mortgages sold to the Federal Home Loan Mortgage Corporation to determine: (1) the pervasiveness of overcharges; (2) the reasons why Corporation auditors did not uncover excessive fees charged by lenders; (3) the feasibility of establishing a flat fee or some regulation of the assumpti...
Mortgages Assigned to HUD Under Section 221(g)(4) of the National Housing Act
RCED-84-40: Published: Oct 24, 1983. Publicly Released: Oct 24, 1983.
Pursuant to a congressional request, GAO provided information on the potential long-term costs to the Department of Housing and Urban Development (HUD) of the provisions of section 221 of the National Housing Act.Legislation enacted in 1954 as part of section 221 of the act allows mortgagees holding mortgages insured under section 221 to assign them to HUD, if they are not delinquent and are at le...
The Costs and Benefits of Single Family Mortgage Revenue Bonds: Preliminary Report
RCED-83-145: Published: Apr 18, 1983. Publicly Released: Apr 27, 1983.
In response to a congressional request, GAO analyzed the loan activity of 40 State and local bond issuers that borrowed in the tax-exempt market between December 1981 and July 1982 and provided preliminary information regarding: (1) the extent to which lower income homebuyers are benefiting from the mortgage revenue bonds; (2) the effectiveness of Federal purchase price ceilings and State and loca...
Countercyclical Stimulus Proposals for Single-Family Housing
CED-82-122A: Published: Nov 1, 1982. Publicly Released: Nov 1, 1982.
In conjunction with earlier efforts to analyze the current downturn in housing construction, GAO conducted two symposia on countercyclical stimulus for single-family and multifamily housing in which leading experts discussed the key issues and evaluated the most significant options for aiding the homebuilding industry. This report contains a summary and the individual papers presented at the sympo...
Implementation of Revised Section 235 Homeownership Program
CED-78-16: Published: Nov 23, 1977. Publicly Released: Nov 23, 1977.
An inquiry was conducted into the Department of Housing and Urban Development's (HUD) implementation of the revised section 235 homeownership program. Since its inception in January 1976, the program has helped only 9,459 homebuyers, and only $21.3 million of the total $264.1 million in contract authority has been reserved or obligated. The Department's initial goal was to spend the $264.1 million...
Government National Mortgage Association's Secondary Mortgage Market Activities
CED-77-28: Published: Mar 8, 1977. Publicly Released: Mar 8, 1977.
The Government National Mortgage Association participates in the buying and selling of mortgages in the secondary mortgage market.The Association attempts to accomplish its legislatively assigned missions primarily by: (1) issuing to mortgage originators commitments to purchase mortgages with primarily below-market interest rates; (2) purchasing and selling such mortgages; and (3) guaranteeing sec...
GAO Testimony on Secondary Mortgage Market Activities by the Government National Mortgage Association
CED-77-16: Published: Nov 29, 1976. Publicly Released: Nov 29, 1976.
Several alternatives to the present practices of the Government National Mortgage Association's secondary mortgage market activities warrant consideration.The Association's ability to hold mortgages during periods when interest rates are relatively high is restricted by the Office of Management and Budget's required end of the fiscal year outlay ceiling. The Association requires bidders at securit...