Single-Family Housing: Stronger Oversight of FHA Lenders Could Reduce HUD's Insurance Risk

A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on the Department of Housing and Urban Development's (HUD) oversight of lenders participating in its Federal Housing Administration's (FHA) mortgage insurance programs for single-family homes, focusing on: (1) how HUD ensures that lenders granted direct endorsement authority by FHA are qualified to receive such authority; (2) the extent to which HUD focuses on high-risk lenders in monitoring the lenders participating in FHA's mortgage insurance programs; and (3) the extent to which HUD holding lenders are accountable for poor performance.