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As of January 31, 2023, there are 4839 open recommendations that still need to be addressed. 470 of these are priority recommendations, those that we believe warrant priority attention. Learn more about our priority designation on our Recommendations page.

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1 - 4 of 4 Recommendations, including 0 Priority Recommendations

Home Foreclosure Sales: FHA, Rural Housing Service, and VA Could Better Align Program Metrics with Their Missions

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1 Open Recommendations
Agency Recommendation Status
Federal Housing Administration The Commissioner of FHA should identify and use metrics that measure how the agency's REO program supports its regulatory goal of strengthening communities. For example, the agency might measure the policy outcomes from the REO property sales made through FHA's alternative sales programs. (Recommendation 1)
Open

When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Federal Housing Administration: Opportunities Exist to Improve Defaulted Single-Family Loan Sales

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2 Open Recommendations
Agency Recommendation Status
Federal Housing Administration The Commissioner of FHA should develop a methodology to assess the range of possible outcomes for loans when setting DASP reserve prices. (Recommendation 8)
Open

HUD issued a Standard Operating Procedure for these sales on October 17, 2019. The procedures address reserve pricing but we will continue to follow up with the agency on any plans to develop a methodology to assess the range of possible outcomes when setting the reserve prices. In February 2022, HUD informed us that it held a sale of vacant and abandoned homes in April 2021. Since the sale was not an auction and only consisted of vacant or abandoned homes, we are waiting to receive additional clarification from HUD regarding how it plans to assess the range of possible outcomes for other

Federal Housing Administration The Commissioner of FHA should clearly define DASP objectives and develop measurable targets for all program objectives. (Recommendation 3)
Open

HUD issued Standard Operating Procedures for single-family loan sales on October 17, 2019. The document notes that these sales have been implemented to reduce losses or improve recoveries for FHA's Mutual Mortgage Insurance Fund. HUD officials said that they will compare loan sale recoveries against other disposition types. HUD provided support on March 2, 2021 that it had updated the Office of Asset Sales website to be consistent with the Standard Operating Procedures. We will continue to follow up with the agency on its development of measurable targets for the objectives of these sales. As

Federal Housing Administration: Improved Procedures and Assessment Could Increase Efficiency of Foreclosed Property Conveyances

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1 Open Recommendations
Agency Recommendation Status
Federal Housing Administration The Commissioner of FHA should develop a formal plan for evaluating the outcomes of the preconveyance inspection pilot that includes key elements of evaluation design—such as evaluation objectives and measures—and utilizes participant feedback and control groups, as appropriate. (Recommendation 3)
Open

As of July 2022, FHA had not implemented this recommendation. According to FHA officials, the agency operated the preconveyance inspection pilot from May 2017 through the end of 2020, during which 1,287 properties underwent a preconveyance inspection. FHA officials said they had not yet planned or conducted a formal assessment, but that mortgage servicers, FHA property management contractors, and FHA staff felt the results of the pilot were generally positive. FHA officials said they had intended to examine the results of the pilot more closely, but that competing priorities from the COVID-19

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For questions about a specific recommendation, contact the person or office listed with the recommendation. For general information about recommendations, contact GAO's Audit Policy and Quality Assurance office at (202) 512-6100 or apqa@gao.gov.