HUD

Sale of HUD-Held Single Family Mortgages Gao ID: OGC-97-21 February 21, 1997

Pursuant to a legislative requirement, GAO reviewed the Department of Housing and Urban Development's (HUD) new rule on the sale of HUD-held single family mortgages. GAO noted noted that: (1) the rule would adopt the interim rule with certain modifications and clarifications; (2) the purpose of the sales, according to the preamble, is to decrease HUD's inventory of assigned mortgage loans and to reduce further losses to the Federal Housing Administration insurance funds; (3) the final rule would result in a program of regular sales of all HUD-owned single family mortgage loans; and (4) HUD complied with applicable requirements in promulgating the rule.



The Justia Government Accountability Office site republishes public reports retrieved from the U.S. GAO These reports should not be considered official, and do not necessarily reflect the views of Justia.