United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2004-11-12 monographic deposited born digital 57 p. GA 1.13:GAO-05-13 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-13 P0b002ee180397763 f:d0513 DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-05-13 machine generated eng fdlp REPORT GAOREPORTS-GAO-05-13 GAO-05-13 Accountability Eligibility determinations Monitoring Mortgage loans Mortgage protection insurance Noncompliance Performance measures Quality assurance Risk management Policies and procedures HUD Computerized Homes Underwriting Management System Other Written Product A13453

Every year, the Department of Housing and Urban Development (HUD), through its Federal Housing Administration (FHA), insures billions of dollars in home mortgage loans made by private lenders. Oversight of lenders has historically been a challenge for HUD. In January 2003, GAO reported that, due in part to poor lender oversight, HUD's single-family mortgage insurance programs remained a high-risk area. This report examines (1) how well HUD follows its guidance when granting lenders direct endorsement authority (the ability to underwrite loans and determine their eligibility for FHA mortgage insurance without HUD's prior review), (2) the extent to which HUD uses a risk-based approach when monitoring FHA lenders, and (3) the extent to which HUD holds accountable lenders that it identifies as not complying with its performance requirements. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-13/html/GAOREPORTS-GAO-05-13.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-13/pdf/GAOREPORTS-GAO-05-13.pdf GAO-05-13 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-13 Other Written Product GAO-05-13; Single-Family Housing: Progress Made, but Opportunities Exist to Improve HUD's Oversight of FHA Lenders; Accountability Eligibility determinations Monitoring Mortgage loans Mortgage protection insurance Noncompliance Performance measures Quality assurance Risk management Policies and procedures HUD Computerized Homes Underwriting Management System Title 12 Section 1709(b) 12 U.S.C. 1709(b)