Mortgage loans (61 - 70 of 76 items)
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...
Department of Housing and Urban Development Policies Concerning Multifamily Property Management and Disposition
121488: May 25, 1983
GAO discussed the Department of Housing and Urban Development's (HUD) policies concerning multifamily property management and disposition. Specifically, GAO addressed: (1) the basis for the prices that HUD receives on project sales and the financing mechanisms involved; (2) the current status of delinquencies on HUD multifamily assigned mortgages; (3) HUD responsiveness to prior GAO recommendation...
HUD's Loan Servicing Contracts for Multifamily Mortgages Need Better Management
RCED-83-78: Published: Mar 14, 1983. Publicly Released: Mar 21, 1983.
In response to a congressional request, GAO evaluated the Department of Housing and Urban Development's (HUD) reply to formal congressional questions concerning the HUD Region III contract and proposed nationwide contract with the private sector for loan services. HUD plans to utilize the private sector contracts to improve the servicing of HUD-held mortgages resulting in increased revenues from t...
New Mortgages for Financing Homes Need Uniform and Comprehensive Consumer Safeguards
CED-81-53: Published: Jul 2, 1981. Publicly Released: Jul 2, 1981.
GAO reviewed several of the new mortgage instruments for single-family homes and their impact on homebuyers and lenders. The review was made because many Americans purchasing homes in the future will be faced with selecting one of the new alternative mortgage instruments instead of the standard level payment mortgage which has been in use for about 40 years.The principal types of alternatives to t...
HUD Should Make Immediate Changes in Accounting for Secretary-Held Multifamily Mortgages
FGMSD-80-43: Published: May 16, 1980. Publicly Released: May 16, 1980.
The Department of Housing and Urban Development (HUD) holds over 2,000 multifamily mortgages valued at about $3.7 billion. These Secretary-held mortgages were either returned from commercial lenders after mortgagors defaulted on their insured mortgages or resulted from HUD selling property it had previously acquired.As of September 30, 1979, HUD reported that $500 million in payments on multifamil...
Condominium Homeownership Opportunities Could Be Increased
CED-78-71: Published: Mar 21, 1978. Publicly Released: Mar 21, 1978.
The growth in condominium ownership and its advantages have led to the enactment of legislation authorizing condominium financing programs for the Department of Housing and Urban Development (HUD), the Veterans Administration (VA), and the Farmers Home Administration (FmHA).Because of statutory limitations, opportunities for financing are still not readily available to condominium buyers. HUD can...
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...
HUD's Procedures for Allocating Housing Units to Developers
RED-75-339: Published: Feb 27, 1975. Publicly Released: Mar 25, 1975.
No summary is currently available...