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 2005-03-15 monographic deposited born digital 48 p. GA 1.13:GAO-05-227 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-227 P0b002ee18038f379 f:d05227 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-05-227 machine generated eng fdlp REPORT GAOREPORTS-GAO-05-227 GAO-05-227 Budget authority Congressional oversight Future budget projections Government guaranteed loans Mortgage loans Housing programs Mortgage programs Budget obligations Housing Subsidies Lending institutions Cooperative Management Housing Insurance Fund Other Written Product A19356 In fiscal year 2004, the Department of Housing and Urban Development's Federal Housing Administration (FHA) and the Department of Agriculture's Rural Housing Service (RHS) guaranteed approximately $136 billion in mortgages for single-family homes, multifamily rental housing, and healthcare facilities under a variety of programs. In past years, both agencies have occasionally had to suspend the issuance of guarantees under some programs when they exhausted the dollar amounts of their commitment authority (which serves as a limit on the volume of new loans that an agency can guarantee) or credit subsidy budget authority (the authority to cover the long-term costs--known as credit subsidy costs--of extending these guarantees) before the end of a fiscal year. These suspensions can be disruptive to homebuyers, developers, and lenders. GAO was asked to determine (1) how often and why FHA and RHS have suspended their loan guarantee programs over the last decade, (2) how these agencies manage and notify Congress of the rate at which the authorities for these programs will be exhausted, and (3) options Congress and the agencies could exercise to help prevent future suspensions and the potential implications of these options. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-227/html/GAOREPORTS-GAO-05-227.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-05-227/pdf/GAOREPORTS-GAO-05-227.pdf GAO-05-227 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-05-227 Other Written Product GAO-05-227; Housing Finance: Options to Help Prevent Suspensions of FHA and RHS Loan Guarantee Programs; Budget authority Congressional oversight Future budget projections Government guaranteed loans Mortgage loans Housing programs Mortgage programs Budget obligations Housing Subsidies Lending institutions Cooperative Management Housing Insurance Fund Volume 117 Page 11 Volume 117 Page 1038 Volume 117 Page 1042 Volume 117 Page 2684 Volume 117 Page 2692 117 Stat. 11 117 Stat. 1038 117 Stat. 1042 117 Stat. 2684 117 Stat. 2692 Volume 118 Page 3 Volume 118 Page 1102 118 Stat. 3 118 Stat. 1102 Public Law 108-7 Public Law 108-83 Public Law 108-84 Public Law 108-185 Public Law 108-186 Public Law 108-199