United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-05-30 monographic deposited born digital 35 p. GA 1.13:GGD-95-123 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-123 P0b002ee18037a178 f:gg95123 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GGD-95-123 machine generated eng fdlp REPORT GAOREPORTS-GGD-95-123 GGD-95-123 Government sponsored enterprises Mortgage loans Mortgage programs Regulatory agencies Financial management systems Federal agency accounting systems Interagency relations Capital Risk management Personnel management OFHEO Performance Evaluation Management System Federal Housing Enterprises Regulatory Reform Act of 1992 Letter Report GGD

Pursuant to a legislative requirement, GAO reviewed the status of the Office of Federal Housing Enterprise Oversight's (OFHEO) development, focusing on OFHEO progress in designing and instituting key management systems.<p/>GAO found that: (1) OFHEO has made considerable progress toward setting up its key management systems; (2) as of February 1995, OFHEO had most of its administrative structure in place with 53 of its 65 authorized staff, and had prepared for the implementation of its human resource management system; (3) although OFHEO has defined its financial and accounting system requirements and has worked with the Department of Housing and Development (HUD) to meet its immediate accounting and administrative needs, it is having difficulties using HUD systems; (4) OFHEO has not decided whether to continue to use HUD systems, create and maintain its own systems, or contract out its accounting and administrative functions to another federal agency; (5) OFHEO has begun its mission-related programs, established the fundamentals of its examination function, adopted an overall examination framework, and set a 2-year workplan; (6) OFHEO has completed its first on-site examination of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation and the design, purchase, and installation of computer software to support its financial research; (7) OFHEO has not met its legislative deadline to complete final regulations establishing the enterprises' risk-based capital stress test, but it has adopted intermediate milestones and expects to publish the regulations in 1996; and (8) although OFHEO staff is having difficulties meeting its 2-year workplan, OFHEO has generally met its legislative reporting requirements. https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-123/html/GAOREPORTS-GGD-95-123.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-95-123/pdf/GAOREPORTS-GGD-95-123.pdf GAO/GGD-95-123 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-95-123 Letter Report GAO/GGD-95-123; Government-Sponsored Enterprises: Development of the Federal Housing Enterprise Financial Regulator; Government sponsored enterprises Mortgage loans Mortgage programs Regulatory agencies Financial management systems Federal agency accounting systems Interagency relations Capital Risk management Personnel management OFHEO Performance Evaluation Management System Federal Housing Enterprises Regulatory Reform Act of 1992 Title 12 Section 4501 Title 12 Section 4501(4) Title 12 Section 4513 Title 12 Section 4515 Title 12 Section 4516 Title 12 Section 4517 Title 12 Section 4521 Title 12 Section 4561-4564 Title 12 Section 4611 Title 12 Section 4612 Title 12 Section 4614 12 U.S.C. 4501 12 U.S.C. 4501(4) 12 U.S.C. 4513 12 U.S.C. 4515 12 U.S.C. 4516 12 U.S.C. 4517 12 U.S.C. 4521 12 U.S.C. 4561-4564 12 U.S.C. 4611 12 U.S.C. 4612 12 U.S.C. 4614 Title 31 Section 3512(d) 31 U.S.C. 3512(d) Public Law 102-550