United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-06-13 monographic deposited born digital GA 1.13:T-RCED-95-226 https://www.govinfo.gov/app/details/GAOREPORTS-T-RCED-95-226 P0b002ee180378cfe f:trc95226 DGPO 2010-08-12 2011-03-23 GAOREPORTS-T-RCED-95-226 machine generated eng fdlp REPORT GAOREPORTS-T-RCED-95-226 T-RCED-95-226 Housing programs Low income housing Federal aid for housing Rental housing Disadvantaged persons Fair market value Public assistance programs Government guaranteed loans Mortgage protection insurance Rent subsidies HUD Section 8 New Housing Construction Program HUD Section 8 Rental Assistance Program HUD Reinvention Blueprint HUD Section 8 Substantial Rehabilitation Program FHA Multifamily Loan Insurance Program Testimony RCED The Department of Housing and Urban Development (HUD) is proposing to restructure its multifamily housing portfolio via an approach known as "mark to market." About two million privately owned and managed rental units benefit from mortgage insurance or rental subsidies provided by HUD. The proposal seeks to overcome problems plaguing projects in HUD's multifamily portfolio that both have HUD-insured mortgages and receive rental subsidies tied to units in the projects under HUD's Section 8 rental assistance program. The proposal calls for decoupling rental subsidies and mortgage insurance at individual projects and adjusting mortgage debt to help projects compete effectively in the commercial rental market. This testimony focuses on the following questions: (1) What problems affect the condition of HUD's multifamily housing portfolio? (2) How does HUD believe that its mark-to-market proposal would solve these problems? (3) Which properties will be affected by HUD's proposal? (4) What costs and savings may result from the mark-to-market approach? (5) What key issues does Congress face in considering the proposal? https://www.govinfo.gov/content/pkg/GAOREPORTS-T-RCED-95-226/html/GAOREPORTS-T-RCED-95-226.htm GAO/T-RCED-95-226 https://www.govinfo.gov/app/details/GAOREPORTS-T-RCED-95-226 Testimony GAO/T-RCED-95-226; Multifamily Housing: HUD's Proposal to Restructure Its Portfolio; Housing programs Low income housing Federal aid for housing Rental housing Disadvantaged persons Fair market value Public assistance programs Government guaranteed loans Mortgage protection insurance Rent subsidies HUD Section 8 New Housing Construction Program HUD Section 8 Rental Assistance Program HUD Reinvention Blueprint HUD Section 8 Substantial Rehabilitation Program FHA Multifamily Loan Insurance Program