Mortgage market (31 - 40 of 51 items)
Housing and Urban Development: Limited Progress Made on HUD Reforms
T-RCED-96-112: Published: Mar 27, 1996. Publicly Released: Mar 27, 1996.
GAO discussed management and budget problems facing the Department of Housing and Urban Development (HUD). GAO noted that: (1) weak internal controls, an ineffective organizational structure, an insufficient staff skill mix, and inadequate information and financial management systems have hampered HUD ability to carry out its mission and led to GAO designating HUD as a high-risk area in January 19...
Property Disposition: Information on HUD's Acquisition and Disposition of Single-Family Properties
RCED-95-144FS: Published: Jul 24, 1995. Publicly Released: Aug 4, 1995.
Pursuant to a congressional request, GAO provided information on the Department of Housing and Urban Development's (HUD) acquisition and disposition of single-family properties.GAO found that: (1) HUD spent nearly $14 billion to acquire, manage, and dispose of nearly 200,000 single-family properties it sold during fiscal years 1992 through 1994, and it only received $9.2 billion from the sale of t...
Multifamily Housing: HUD's Mark-to-Market Proposal
T-RCED-95-230: Published: Jun 15, 1995. Publicly Released: Jun 15, 1995.
GAO discussed the Department of Housing and Urban Development's (HUD) proposal to restructure its multifamily housing portfolio. GAO noted that: (1) HUD pays higher costs than necessary to subsidize low-income properties and sets lower rents than required to maintain the properties' physical condition; (2) HUD has proposed to replace project-based assistance with tenant-based assistance and restru...
Multifamily Housing: HUD's Proposal to Restructure Its Portfolio
T-RCED-95-226: Published: Jun 13, 1995. Publicly Released: Jun 13, 1995.
GAO discussed the Department of Housing and Urban Development's (HUD) proposal to restructure its multifamily housing portfolio. GAO noted that: (1) HUD pays higher costs than necessary to subsidize properties and sets lower rents than required to maintain properties' physical condition; (2) HUD has proposed to replace project-based assistance with tenant-based assistance and restructure mortgages...
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...
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...
Home Ownership: Mortgage Servicing Transfers Are Increasing and Causing Borrower Concern
RCED-90-62: Published: Nov 1, 1989. Publicly Released: Nov 22, 1989.
Pursuant to a congressional request, GAO reviewed home mortgage servicing transfer practices.GAO found that 1985 mortgage servicing transfer estimates of $80 to $90 billion increased to $150 billion in 1988, because economies of scale, accounting and tax advantages, and income generation needs made servicing buying and selling profitable. GAO also found that borrowers were adversely affected by th...
1988 Financial Audit: Federal Housing Administration
T-AFMD-89-18: Published: Sep 28, 1989. Publicly Released: Sep 28, 1989.
GAO discussed its audit of the Federal Housing Administration's (FHA) financial statements. GAO noted that: (1) it was unable to express an opinion on the FHA financial statements because of uncertainties over potential losses from the diversion of property sales proceeds, overstatements of the values of foreclosed property, and the effects of other investigations; (2) FHA suffered major losses in...
Rental Housing: Potential Reduction in the Privately Owned and Federally Assisted Inventory
RCED-86-176FS: Published: Jun 16, 1986. Publicly Released: Jun 16, 1986.
In response to a congressional request, GAO provided information on the retention of the privately owned and federally assisted rental housing inventory as lower-income housing, specifically the current inventory of such housing and the potential impact of expiring section 8 contracts and mortgage prepayment restrictions on the inventory.GAO found that the fiscal year (FY) 1985 inventory was 1.9 m...
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...