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Exactly what GAO Located
Convergence inside casing direction programs-such as for example that from the Department out of Agriculture’s (USDA) Outlying Homes Solution (RHS) as well as the Service away from Property and Urban Invention (HUD)-stress opportunities to possess enhanced cooperation and you will consolidation. GAO’s report receive convergence on the items offered and populations (earnings teams) and you will geographic areas made by RHS and you can HUD solitary-loved ones mortgage make sure apps. GAO and additionally discovered selected multifamily casing programs offered comparable motives. New report generated three advice in order to RHS. RHS essentially arranged towards the pointers and you may then followed you to because of the formalizing collaborative efforts with other government agencies on single-family housing software. Although not, RHS or any other federal property businesses have not yet drawn other required procedures to construct toward interagency perform-such as, because of the researching certain solutions to possess combining comparable construction programs, including individuals who would require statutory changes.
RHS fundamentally decided with features treated a few of GAO’s past suggestions for the latest rental direction and you may farm work casing software, but others require after that desire. Specifically, RHS observed about three of your own 7 guidance GAO manufactured in so you’re able to help the agency’s efforts to determine and relieve poor local rental direction repayments. Extra methods are necessary to use the rest advice, and therefore target flaws in the manner RHS rates and you can reports towards the poor payments. RHS in addition to addressed about three of the 7 guidance GAO manufactured in . Subsequent steps have to apply one other five, which address faults for the RHS control to have making sure renter eligibility, certainly one of other problems.
Constant GAO functions suggests that aspects of RHS’s chance management for the latest solitary-household members financial ensure program generally align which have federal conditions, while www.clickcashadvance.com/payday-loans-ar/portland some aren’t fully consistent with standards and you will top methods. Particularly, RHS features policies and procedures for a number of risk- administration functions addressed in the Office regarding Management and you may Finances information (particularly determining borrower creditworthiness and supervising loan providers). not, GAO’s constant works indicates that, in comparison to government interior control conditions, RHS does not have composed guidelines and procedures getting a panel guilty of comparing borrowing from the bank quality factors and you can addressing them because of policy transform. Together with, particular criteria RHS spends to greatly help assess the performance of the guaranteed collection enjoys limits you to fade their worth to have examining risk and generally are maybe not fully in keeping with top strategies to own winning overall performance methods. This type of flaws get limit the capability away from RHS’s risk-government jobs.
Why GAO Did This study
RHS, an agency within USDA, administers numerous direct loan, financing guarantee, and you can offer apps you to definitely support reasonable housing and you will neighborhood development to own rural owners. Centered on USDA monetary and you may finances data, RHS protects a collection out of nearly $120 million inside the housing loans and you will mortgage claims and you can administers a great deal more than simply $1 million inside local rental recommendations money yearly. GAO given about three profile since s (come across GAO-11-329, GAO-12-554, and you will GAO-12-624) and contains ongoing operate in this place.
That it testimony will be based upon men and women around three account and continuing GAO really works. They covers (1) previous GAO findings on the quantity that this new construction apps away from RHS and you may HUD overlap and you can relevant effects to possess system venture and you can integration; (2) the updates off GAO advice on new rental homes assistance program and ranch labor houses loan and grant system; and you will (3) preliminary findings throughout the ongoing overview of exposure-government techniques on the single-family relations mortgage be sure system. In order to upgrade the new updates off pointers, GAO analyzed RHS rules, procedures, and you can records. Because of its lingering work, GAO assessed government criteria and you may top methods getting risk government and you will compared these with RHS regulations, procedures, and you can techniques. GAO together with interviewed RHS officials.
GAO makes zero the newest pointers in this testimony, but could believe and make even more information shortly after its constant efforts are complete.
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Lianyungang City, Jiangsu Province, China