Homeownership: Management Challenges Facing FHA's Single-Family Housing Operations
Highlights
Pursuant to a congressional request, GAO discussed the management problems facing the single-family mortgage insurance programs of the Federal Housing Administration (FHA), focusing on: (1) FHA's role in providing mortgage credit to home buyers; (2) management problems affecting the operations of the Department of Housing and Urban Development's (HUD) single-family program, including weaknesses in HUD's oversight of the contractors responsible for safeguarding and maintaining foreclosed FHA properties, indications that weaknesses may exist in HUD's oversight of FHA appraisers, and internal control problems identified in FHA's financial statements audits; and (3) GAO's observations on HUD's plans for addressing these and other single-family management problems as part of its agencywide HUD 2020 Management Reform Plan.