HUD Compliance With Continuing Resolution Provision for Using the Full Amounts of Loan Guarantee Limitations

PAD-83-15: Published: Jan 21, 1983. Publicly Released: Jan 21, 1983.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

In response to a congressional request, GAO monitored the Department of Housing and Urban Development's (HUD) compliance with a section of the third continuing resolution for fiscal year 1982 which provided that the heads of departments should enter into commitments to guarantee or insure the full amounts provided for in this joint resolution or other applicable law. In particular, GAO reviewed the Federal Housing Administration (FHA), the Government National Mortgage Association (GNMA), and Section 108 loan guarantee programs.

GAO found that HUD has complied with the third continuing resolution. The FHA and GNMA loan guarantee programs were using their available authority; however, for a while the Section 108 loan guarantee program was being restrained from making any new loan guarantee commitments. In January and February the authority for the Section 108 loan guarantee program was released. HUD requested and OMB approved an apportionment equal to the amounts specified in the appropriations language, and HUD execution schedules show that commitments were starting to be made in February and continued through the rest of the fiscal year.

Oct 26, 2020

Sep 30, 2020

Sep 10, 2020

Sep 8, 2020

Aug 13, 2020

Jul 29, 2020

Jul 8, 2020

Jun 22, 2020

May 26, 2020

May 12, 2020

Looking for more? Browse all our products here