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 To help determine a borrower's creditworthiness, mortgage lenders can use “alternative data”—consumer information not contained in a traditional credit report, such as a borrower's rent payments.
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, 2021, and 2020, are presented fairly, in all material respects, in accordance with U.S.
The Federal Housing Administration (FHA) historically has been an important participant in the mortgage market, which includes loans that carry government insurance or guarantees (such as FHA-insured mortgages) and those that do not (conventional mortgages).
The Government National Mortgage Association, commonly known as Ginnie Mae, is a wholly owned government corporation that guarantees mortgage-backed securities (MBS) backed by pools of federally insured or guaranteed mortgage loans.
Pursuant to a congressional request, GAO assessed the Resolution Trust Corporation's (RTC) third-quarter compliance with the maximum RTC obligation limit set forth by the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989, which provided a formula calculating maximum allowable...
Pursuant to a congressional request, GAO reviewed the quarterly report on the Resolution Trust Corporation's (RTC) compliance with the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), to determine whether: (1) RTC included all the required categories in its calculations;...