The Costs and Benefits of Single Family Mortgage Revenue Bonds: Preliminary Report

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 local income limits in targeting loans to the intended households; and (3) the efficiency of mortgage revenue bonds in general.