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 2007-06-22 monographic deposited born digital 18 p. GA 1.13:GAO-07-1033T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1033T P0b002ee1803a3f99 f:d071033t DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-07-1033T machine generated eng fdlp REPORT GAOREPORTS-GAO-07-1033T GAO-07-1033T Homeowners loans Housing Lending institutions Mortgage loans Mortgage programs Nonprofit organizations Prices and pricing Standards Testimony A71230 The Federal Housing Administration (FHA) differs from other key mortgage industry participants in that it allows borrowers to obtain down-payment assistance from nonprofit organizations (nonprofits) that operate programs supported partly by property sellers. Research has raised concerns about how this type of assistance affects home purchase transactions. To assist Congress in considering issues related to down-payment assistance, this testimony provides information from GAO's November 2005 report, Mortgage Financing: Additional Action Needed to Manage Risks of FHA-Insured Loans with Down Payment Assistance (GAO-06-24). Specifically, this testimony discusses (1) trends in the use of down-payment assistance with FHA-insured loans, (2) the impact that the presence of such assistance has on purchase transactions and house prices, and (3) the influence of such assistance on loan performance. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1033T/html/GAOREPORTS-GAO-07-1033T.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1033T/pdf/GAOREPORTS-GAO-07-1033T.pdf GAO-07-1033T https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1033T Testimony GAO-07-1033T; Mortgage Financing: Seller-Funded Down-Payment Assistance Changes the Structure of the Purchase Transaction and Negatively Affects Loan Performance; Homeowners loans Housing Lending institutions Mortgage loans Mortgage programs Nonprofit organizations Prices and pricing Standards Public Law 73-479