Mortgage Financing: Actions Needed to Help FHA Manage Risks from New Mortgage Loan Products

United States. Government Accountability Office.

United States. Government Accountability Office.

关键词: Government accountability -- United States.;    housing;    mortgage financing;    letter report;   

RP-ID  :  GAO-05-194
RP-ID  :  245291

美国|英语

来源: UNT Digital Library

【 摘 要 】

A letter report issued by the Government Accountability Office with an abstract that begins "The U.S. Department of Housing and Urban Development (HUD), through its Federal Housing Administration (FHA), insures billions of dollars in home mortgage loans made by private lenders. FHA insures low down payment loans and a number of parties have made proposals to either eliminate or otherwise change FHA's borrower contribution requirements. GAO was asked to (1) identify the key characteristics of existing low and no down payment products, (2) review relevant literature on the importance of loan-to-value (LTV) ratios and credit scores to loan performance, (3) report on the performance of low and no down payment mortgages supported by FHA and others, and (4) identify lessons for FHA from others in terms of designing and implementing low and no down payment products."