GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
What GAO Found The mandatory purchase requirement mandates flood insurance for certain high-risk properties and was established to increase the number of households with flood insurance. Lenders must verify that certain properties have flood insurance.
What GAO Found The Federal Emergency Management Agency (FEMA) relied primarily on rental assistance payments to assist 2017 and 2018 hurricane survivors but also used direct housing programs to address housing needs, as shown in the table below.
What GAO Found As of October 2020, 3 years since the hurricanes destroyed much of Puerto Rico's electricity grid, neither the Federal Emergency Management Agency (FEMA) nor the Department of Housing and Urban Development (HUD) had approved long-term grid recovery projects in Puerto Rico.
What GAO Found GAO found (1) the Federal Housing Finance Agency’s (FHFA) financial statements as of and for the fiscal years ended September 30, 2020, and 2019, are presented fairly, in all material respects, in accordance with U.S.
What GAO Found GAO found (1) the Federal Housing Finance Agency’s (FHFA) financial statements as of and for the fiscal years ended September 30, 2019, and 2018, are presented fairly, in all material respects, in accordance with U.S.
What GAO Found Mortgage servicers purchase lender-placed insurance (LPI) for mortgages whose borrower-purchased insurance coverage lapses, most often because of nonpayment by the borrower or cancellation or nonrenewal by the original insurer.
What GAO FoundCertain protections under the Servicemembers Civil Relief Act (SCRA) only apply to those servicemembers who obtained mortgages prior to becoming active duty, but at least 15,000 instances of financial institutions failing to properly reduce servicemembers mortgage interest rates and over...
Concerns over the Department of Homeland Security's (DHS) Federal Emergency Management Agency's (FEMA) provision of temporary housing assistance, including travel trailers at group sites, after the 2005 hurricanes led to the development of the National Disaster Housing Strategy.
Almost 4 years after the 2005 Gulf Coast hurricanes, the region continues to face daunting rebuilding challenges. To date, $19.7 billion in Community Development Block Grant (CDBG) funds have been appropriated for Gulf Coast rebuilding assistance--the largest amount in the history of the program.