Federal Housing Enterprises: HUD's Mission Oversight Needs to Be Strengthened

摘要

This report responds to your request that we assess the Department of Housing andUrban Development's (HUD) overall housing mission oversight of the two largest government-sponsored enterprises (enterprises), which are the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freedie Mac). As agreed with our office, our objectives were to (1) discuss HUD's legal basis, approach, and rationale for setting the numeric housing goals at their current levels; (2) report on the enterprises' compliance with the goals and HUD's assessment of the goals' impacts on promoting homeownership and housing opportunities; (3) assess HUD's procedures and efforts to verify goal compliance data; (4) analyze the enterprises' multifamily mortgage purchase activities under the housing goals and HUD's assessment of these activities' effects on promoting housing opportunities; and (5) review HUD's implementation of its general regulatory and new mortgage program approval oversight authorities under the 1992 Act.