Product Details

Delays, staff shortages and changes in leadership have put a damper on FHA efforts to identify risks in its single-family mortgage insurance programs, which could affect its ability to minimize financial risks, according to the Government Accountability Office. In a report to the chairman and the ranking minority member of the Senate Banking, Housing and Urban Affairs Committee, the GAO concluded that while the FHA has taken steps to assess credit and operational risks, the assessment strategy is not comprehensive. The risk assessment efforts are not integrated, and the FHA lacks annual assessments and mechanisms to...