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 1996-06-27 monographic deposited born digital 17 p. GA 1.13:T-RCED-96-210 https://www.govinfo.gov/app/details/GAOREPORTS-T-RCED-96-210 P0b002ee18039ccae f:rc96210t DGPO 2010-08-12 2011-03-28 GAOREPORTS-T-RCED-96-210 machine generated eng fdlp REPORT GAOREPORTS-T-RCED-96-210 T-RCED-96-210 Housing programs Low income housing Federal aid for housing Rental housing Rent subsidies Rental rates Mortgage loans Accountants Maintenance (upkeep) HUD Section 8 Loan Management Set-Aside Program HUD Section 8 New Housing Construction Program HUD Section 8 Rental Assistance Program HUD Section 8 Substantial Rehabilitation Program Federal Housing Insurance Fund HUD Mark to Market Program Other Written Product RCED GAO discussed the Department of Housing and Urban Development's (HUD) proposal to restructure its section 8 multifamily rental housing portfolio. GAO noted that: (1) the section 8 portfolio suffers from high subsidy costs, exposure to insurance losses, and deteriorating property conditions; (2) HUD has proposed to implement a mark-to-market process that would allow property owners to set rents at market levels and allow HUD to reduce mortgage debt, terminate mortgage insurance, and restructure section 8 subsidies; (3) HUD contracted for a study to obtain information on market rents and the physical condition of the properties in its portfolio; (4) the study showed that the majority of insured section 8 properties would require debt reduction or forgiveness to continue operating; (5) the study also showed that, for most properties, assisted rents are higher than estimated market rents; (6) the contractor's study methodology was reasonable; and (7) any benefits that the HUD proposal realizes may come at a high cost. https://www.govinfo.gov/content/pkg/GAOREPORTS-T-RCED-96-210/html/GAOREPORTS-T-RCED-96-210.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-T-RCED-96-210/pdf/GAOREPORTS-T-RCED-96-210.pdf GAO/T-RCED-96-210 https://www.govinfo.gov/app/details/GAOREPORTS-T-RCED-96-210 Other Written Product GAO/T-RCED-96-210; Multifamily Housing: HUD's Proposals for Reengineering Its Insured Section 8 Portfolio; Housing programs Low income housing Federal aid for housing Rental housing Rent subsidies Rental rates Mortgage loans Accountants Maintenance (upkeep) HUD Section 8 Loan Management Set-Aside Program HUD Section 8 New Housing Construction Program HUD Section 8 Rental Assistance Program HUD Section 8 Substantial Rehabilitation Program Federal Housing Insurance Fund HUD Mark to Market Program