ABSTRACT

Housing Finance System: Future Reforms Should Consider Past Plans and Vulnerabilities Highlighted by Pandemic, Report to Congressional Addressees   [open pdf - 5MB]

From the Highlights: "Since 2013, GAO [Government Accountability Office] has designated the federal role in housing finance as a high-risk area because of the significant risks the current role poses. In September 2019, Treasury and HUD [Department of Housing and Urban Development] began implementing housing finance reform plans, which included steps to transition the enterprises from federal conservatorship. But pandemic-related strains on the housing finance system and the transition to a new administration have increased uncertainty about the future of reform. The CARES [Coronavirus Aid, Relief, and Economic Security] Act includes a provision for GAO to monitor federal efforts related to COVID-19 [coronavirus disease 2019]. Congress also included a provision in statute for GAO to annually review financial services regulations. This report examines (1) vulnerabilities in the housing finance system highlighted by the pandemic, and (2) the nature and status of recommendations in the 2019 reform plans and the extent to which they align with system vulnerabilities and GAO's housing finance reform framework (GAO-15-131)."

Report Number:
GAO-22-104284
Publisher:
Date:
2022-01
Series:
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: http://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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