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While automated tools to assess home values are becoming more common, federally regulated banks and credit unions still obtain appraisals from state-credentialed appraisers for most home loans to protect themselves and borrowers.
The Department of Housing and Urban Development takes a "point-in-time" count to gauge how many people are experiencing homelessness on a single night. HUD relies on local communities to provide the count.
The Federal Housing Finance Agency's goal is to keep the housing finance system healthy by supervising and regulating Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System.
The agency spent $317.6 million in FY 2021 to do its work.
In the U.S., about 1 in 10 young adults and 1 in 30 minors under age 18 experience homelessness without a parent or caregiver over the course of a year. Homelessness is higher among some groups, such as youth of color and transgender youth.
Millions of Americans had trouble paying their rent or mortgages after the COVID-19 pandemic disrupted the U.S. economy. The CARES Act appropriated $12.4 billion to the Department of Housing and Urban Development to help address emergent needs.
The Department of Housing and Urban Development relies on outdated IT infrastructure and manual processes to insure a portfolio of single-family mortgages worth over $1 trillion. HUD has made several unsuccessful attempts to modernize its IT.
Flood insurance protects homeowners from financial loss after a flood.
FEMA's National Flood Insurance Program requires homeowners with federally regulated mortgages to purchase flood insurance for properties located in high-risk areas.