Military Base Realignments and Closures: DOD Is Taking Steps to Mitigate Challenges but Is Not Fully Reporting Some Additional Costs (open access)

Military Base Realignments and Closures: DOD Is Taking Steps to Mitigate Challenges but Is Not Fully Reporting Some Additional Costs

Correspondence issued by the Government Accountability Office with an abstract that begins "The 2005 Base Realignment and Closure (BRAC) round is the fifth such round undertaken by DOD since 1988 and is the biggest, most complex, and costliest BRAC round ever. With this BRAC round, the Department of Defense (DOD) plans to execute hundreds of BRAC actions affecting over 800 defense locations, relocate over 123,000 personnel, and spend over $35 billion--an unprecedented amount, given that DOD has spent nearly $26 billion to implement the four previous BRAC rounds combined when all relevant BRAC actions have been completed. As with prior BRAC rounds, DOD is required to implement the BRAC Commission's 2005 recommendations within 6 years of their approval by the President and transmittal to Congress. Unlike with prior BRAC rounds, DOD is implementing the BRAC 2005 round during a time of conflict and significant increases to the defense budget to support ongoing contingency operations. Compounding this challenge, DOD is also implementing other extensive worldwide transformation initiatives such as the permanent relocation of about 70,000 military personnel to the United States from overseas; transformation of the Army's force structure from an organization based on divisions to more rapidly deployable, combat brigade-based …
Date: July 21, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Life Insurance Settlements: Regulatory Inconsistencies May Pose a Number of Challenges (open access)

Life Insurance Settlements: Regulatory Inconsistencies May Pose a Number of Challenges

A letter report issued by the Government Accountability Office with an abstract that begins "Since the late 1990s, life settlements have offered consumers benefits but also exposed them to risks, giving rise to regulatory concerns. A policy owner with unneeded life insurance can surrender the policy to the insurer for its cash surrender value. Or, the owner may receive more by selling the policy to a third-party investor through a life settlement. These transactions have involved high-dollar-amount policies covering older persons. Despite their potential benefits, life settlements can have unintended consequences for policy owners, such as unexpected tax liabilities. Also, policy owners commonly rely on intermediaries to help them, and some intermediaries may engage in abusive practices. As requested, this report addresses how the life settlement market is organized and regulated, and what challenges policy owners, investors, and others face in connection with life settlements. GAO reviewed and analyzed studies on life settlements and applicable state and federal laws; surveyed insurance regulators and life settlement providers; and interviewed relevant market participants, state and federal regulators, trade associations, and market observers."
Date: July 9, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Aviation Safety: Improved Planning Could Help FAA Address Challenges Related to Winter Weather Operations (open access)

Aviation Safety: Improved Planning Could Help FAA Address Challenges Related to Winter Weather Operations

A letter report issued by the Government Accountability Office with an abstract that begins "Ice formation on aircraft can disrupt the smooth flow of air over the wings and prevent the aircraft from taking off or decrease the pilot's ability to maintain control of the aircraft. Takeoff and landing operations can also be risky in winter weather. Despite persistent efforts by the Federal Aviation Administration (FAA) and others to mitigate icing risks, icing remains a serious concern. GAO reviewed (1) the extent to which commercial airplanes have experienced accidents and incidents related to icing, (2) FAA's inspection and enforcement activities related to icing, (3) the efforts of FAA and others to improve safety in winter weather, and (4) the challenges that continue to affect aviation safety in winter weather. GAO analyzed data obtained from FAA, the National Transportation Safety Board (NTSB), the National Aeronautics and Space Administration (NASA), and others. Further, GAO obtained information from FAA and NTSB officials and representatives of key aviation industry stakeholders."
Date: July 29, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Military Personnel: Enhanced Collaboration and Process Improvements Needed for Determining Military Treatment Facility Medical Personnel Requirements (open access)

Military Personnel: Enhanced Collaboration and Process Improvements Needed for Determining Military Treatment Facility Medical Personnel Requirements

A letter report issued by the Government Accountability Office with an abstract that begins "Military medical personnel, who are essential to maintaining one of the largest and most complex health systems in the nation, are in great demand due to the need to treat injured or ill servicemembers, and advances in technology that require specialized personnel. To determine how well the Department of Defense (DOD) and the services are developing their medical and dental personnel requirements, GAO evaluated (1) the extent to which the services have incorporated cross-service collaboration in their medical personnel requirement processes, and (2) the service-specific processes for determining their requirements for military and civilian medical personnel. To conduct this review, GAO evaluated manpower policies, analyzed the services' requirements data and determination processes, and interviewed officials from the Office of the Secretary of Defense (OSD) and each of the services."
Date: July 29, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Health Care Quality Measurement: The National Quality Forum Has Begun a 4-Year Contract with HHS (open access)

Health Care Quality Measurement: The National Quality Forum Has Begun a 4-Year Contract with HHS

A letter report issued by the Government Accountability Office with an abstract that begins "The Medicare Improvements for Patients and Providers Act of 2008 (MIPPA) directed the Department of Health and Human Services (HHS) to enter into a 4-year contract with an entity to perform five duties related to health care quality measurement and authorized $40 million from the Medicare Trust Funds for the contract. In January 2009, HHS awarded a contract to the National Quality Forum (NQF), under which HHS will reimburse NQF for its costs and pay additional fixed fees. Established in 1999, NQF is a nonprofit member organization that fosters agreement on national standards for measuring and public reporting of health care performance data. This is the first of two reports MIPPA requires GAO to submit on NQF's contract with HHS. In this report, which covers the first contract year--January 14, 2009, to January 13, 2010--GAO describes (1) the status of NQF's work on the five duties under MIPPA; (2) the costs and fixed fees NQF has reported; and (3) what NQF and HHS do in order to help ensure that NQF's reported costs are proper. GAO reviewed relevant MIPPA provisions and reviewed HHS and NQF documents, …
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
New Embassy Compounds: State Faces Challenges in Sizing Facilities and Providing for Operations and Maintenance Requirements (open access)

New Embassy Compounds: State Faces Challenges in Sizing Facilities and Providing for Operations and Maintenance Requirements

A letter report issued by the Government Accountability Office with an abstract that begins "In response to the 1998 bombings of two U.S. embassies, the Department of State (State) embarked on a multiyear, multibillion dollar program to replace insecure and dilapidated diplomatic facilities. Since 2001, State has constructed 52 new embassy compounds (NECs) under this program, and moved over 21,000 U.S. government personnel into more secure and safe facilities. GAO was asked to examine (1) the extent to which new facilities match the space and functionality needs of overseas missions and State's actions to address space and functionality challenges; and (2) operations and maintenance challenges at these new facilities and State's steps to address them. GAO analyzed staffing data and other documentation for 44 NECs built from 2001 to 2009 and interviewed State headquarters and embassy officials at 22 of these 44 NECs to obtain information on their functionality and operations and maintenance issues."
Date: July 20, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Hurricane Recovery: Federal Government Provided a Range of Assistance to Nonprofits following Hurricanes Katrina and Rita (open access)

Hurricane Recovery: Federal Government Provided a Range of Assistance to Nonprofits following Hurricanes Katrina and Rita

A letter report issued by the Government Accountability Office with an abstract that begins "Residents of the Gulf Coast continue to struggle to recover almost 5 years after Hurricanes Katrina and Rita devastated the area in August and September of 2005. In many cases the federal government coordinates with, and provides support to, nonprofit organizations in order to deliver recovery assistance to impacted residents. A better understanding of how the federal government works with nonprofit organizations to provide such assistance may be helpful for recovery efforts on the Gulf Coast as well as for communities affected by major disasters in the future. GAO was asked to describe (1) how the federal government has worked with nonprofit organizations to facilitate Gulf Coast recovery following the 2005 hurricanes and (2) steps the federal government has taken to address challenges to strengthen relationships with nonprofits in the future. Toward this end, GAO reviewed the applicable disaster recovery literature and relevant supporting documents. GAO also interviewed officials from federal, state, and local governments as well as a wide range of nonprofit officials involved in Gulf Coast recovery."
Date: July 30, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Defense Infrastructure: Army's Privatized Lodging Program Could Benefit from More Effective Planning (open access)

Defense Infrastructure: Army's Privatized Lodging Program Could Benefit from More Effective Planning

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Defense (DOD) operates nearly 70,000 lodging rooms--similar to hotel rooms--and spent nearly $1 billion in 2009 to operate them. In 2002, Congress provided authority to privatize lodging facilities. Army privatized lodging at 10 installations in August 2009 and plans to privatize its remaining domestic facilities in the future. The National Defense Authorization Act for Fiscal Year 2008 requires GAO to review lodging privatization and an Army report. This report addresses (1) the factors the military services considered in their decisions to privatize, (2) challenges in the Army's privatization efforts, (3) the effect of the economic downturn on the Army's privatization program, and (4) the extent to which an Army report required by the act, issued in March 2010, addresses the elements in the law. GAO reviewed documentation and interviewed officials from the Office of the Secretary of Defense, the military services, the developer for the Army's privatization project, and four Army installations where lodging was privatized."
Date: July 30, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Expeditionary Fighting Vehicle (EFV) Program Faces Cost, Schedule and Performance Risks (open access)

Expeditionary Fighting Vehicle (EFV) Program Faces Cost, Schedule and Performance Risks

Correspondence issued by the Government Accountability Office with an abstract that begins "This letter formally transmits the briefing in response to a congressional request on May 4, 2009, that we review the EFV program. We provided congressional staff a draft copy of this briefing in meeting with them on June 9, 2010. We provided the same draft to the Department of Defense (DOD) for comments. A summary of DOD's comments with our evaluation are also attached, as well as a reprinted copy of DOD's written comments."
Date: July 2, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Engaging Foreign Audiences: Assessment of Public Diplomacy Platforms Could Help Improve State Department Plans to Expand Engagement (open access)

Engaging Foreign Audiences: Assessment of Public Diplomacy Platforms Could Help Improve State Department Plans to Expand Engagement

A letter report issued by the Government Accountability Office with an abstract that begins "Following budget cuts and attacks against U.S. embassies in the 1990s, the Department of State (State) began to close some public diplomacy facilities, such as American libraries, and move others onto secure embassy compounds. As a result, the number of visitors to these facilities declined and face-to-face interaction with foreign publics became more difficult. To improve its engagement with foreign audiences, State's new public diplomacy strategic framework calls for expanding outreach platforms. GAO was asked to (1) describe the outreach platforms State uses overseas, (2) examine the challenges and opportunities related to these platforms, (3) review State's plans for these platforms, and (4) assess the extent to which State has evaluated these platforms. GAO analyzed State's public diplomacy framework and planning documents; interviewed State officials; and conducted fieldwork in Brazil, China, and Indonesia. We selected these locations based on the mix of existing and planned platforms."
Date: July 21, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Public Transportation: Federal Role in Value Capture Strategies for Transit Is Limited, but Additional Guidance Could Help Clarify Policies (open access)

Public Transportation: Federal Role in Value Capture Strategies for Transit Is Limited, but Additional Guidance Could Help Clarify Policies

A letter report issued by the Government Accountability Office with an abstract that begins "State and local governments are looking for alternative strategies to help fund transit systems. Value capture strategies--joint development, special assessment districts, tax increment financing, and development impact fees--are designed to dedicate to transit either a portion of increased tax revenue or additional revenue through assessments, fees, or rents based on value expected to accrue as a result of transit investments. GAO was asked to review (1) the extent to which transit agencies and local governments use joint development and other value capture strategies to fund or finance transit; (2) what stakeholders have identified as facilitators of, or hindrances to, the use of these; and (3) what stakeholders have said about the effects of federal policies and programs on the use of these strategies. GAO analyzed data from 55 of the 71 transit agencies that responded to its information request; reviewed literature, and statutes and regulations; and interviewed transit agency, local government, and Federal Transit Administration (FTA) officials; developers; and experts."
Date: July 29, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Department of Defense: Additional Actions Needed to Improve Financial Management of Military Equipment (open access)

Department of Defense: Additional Actions Needed to Improve Financial Management of Military Equipment

A letter report issued by the Government Accountability Office with an abstract that begins "Major defense acquisition programs (MDAP) are used to acquire, modernize, or extend the service life of the Department of Defense's (DOD) most expensive assets, primarily military equipment. The Weapon Systems Acquisition Reform Act of 2009 (P.L. 111-23), section 304(b), directed us to perform a review of weaknesses in DOD's operations that affect the reliability of financial information for assets acquired through MDAP. To do so, GAO identified and reviewed previously reported weaknesses that impair DOD's ability to provide reliable cost information for military equipment acquired through MDAPs, and determined what actions DOD has taken to address them. GAO searched databases of audit reports issued during calendar years 2005 through 2009 to identify previously reported weaknesses. Using applicable criteria, GAO assessed whether the actions taken by DOD adequately addressed these weaknesses."
Date: July 26, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Border Security: CBP Lacks the Data Needed to Assess the FAST Program at U.S. Northern Border Ports (open access)

Border Security: CBP Lacks the Data Needed to Assess the FAST Program at U.S. Northern Border Ports

A letter report issued by the Government Accountability Office with an abstract that begins "The United States and Canada share a border of nearly 5,525 miles. U.S. Customs and Border Protection (CBP), within the Department of Homeland Security (DHS), is responsible for securing the borders while facilitating trade and travel. CBP launched the Free and Secure Trade (FAST) program in 2002 to expedite processing for pre-vetted, low-risk shipments. GAO was requested to assess U.S.-Canadian border delays. This report addresses the following for U.S. northern border land ports of entry: (1) the extent to which wait times data are reliable and reported trends in wait times, (2) any actions CBP has taken to reduce wait times and any challenges that remain, and (3) the extent to which CBP and FAST participants experience the benefits of the FAST program. GAO analyzed CBP information and data on staffing, infrastructure, wait times, training, and the FAST program from 2003 through 2009 to analyze operations. GAO visited six northern border land ports, which were primarily selected based on commercial traffic volume. GAO interviewed importers, trade organizations, and border stakeholders. The results are not generalizable, but provide insights."
Date: July 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Performance Measurement: Better Alignment to Strategic Goals and Data Verification Needed at the Corporation for National and Community Service (open access)

Performance Measurement: Better Alignment to Strategic Goals and Data Verification Needed at the Corporation for National and Community Service

A letter report issued by the Government Accountability Office with an abstract that begins "The Corporation for National and Community Service (CNCS) promotes volunteering and civic engagement through a variety of federally funded programs, such as AmeriCorps. In 2009, Congress passed the Serve America Act (Pub. L. No. 111-13), which made substantial changes to CNCS' mission. The Act authorized an increase in the number of service opportunities administered by CNCS, from 88,000 in 2010 to 250,000 by 2017; created new programs; and directed CNCS to focus more on evaluating its programs' performance to ensure cost-effectiveness and the effective use of volunteers, among other factors. To assist the Congress in its oversight role, GAO reviewed: (1) To what extent do the corporation's current performance measures align with the corporation's strategic goals? (2) To what extent do the corporation's performance measures provide a reliable way to assess progress in achieving the corporation's strategic goals? and (3) What progress has the corporation made in developing new performance measures for each of its national service programs?"
Date: July 28, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Telecommunications: Enhanced Data Collection Could Help FCC Better Monitor Competition in the Wireless Industry (open access)

Telecommunications: Enhanced Data Collection Could Help FCC Better Monitor Competition in the Wireless Industry

A letter report issued by the Government Accountability Office with an abstract that begins "Americans increasingly rely on wireless phones, with nearly 40 percent of households now using them primarily or solely. Under federal law, the Federal Communications Commission (FCC) is responsible for fostering a competitive wireless marketplace while ensuring that consumers are protected from harmful practices. As requested, this report discusses changes in the wireless industry since 2000, stakeholders' perceptions of regulatory policies and industry practices, and the strategies FCC uses to monitor competition. To conduct this work, GAO collected and analyzed data and documents from a variety of government and private sources; conducted case studies in both rural and urban areas of four states; and interviewed stakeholders representing consumers, local and state agencies and officials, and various segments of the industry."
Date: July 27, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Aviation Research: Airport Cooperative Research Program Addresses Many Needs but Could Enhance Transparency and Clarify Scope of Research Role (open access)

Aviation Research: Airport Cooperative Research Program Addresses Many Needs but Could Enhance Transparency and Clarify Scope of Research Role

A letter report issued by the Government Accountability Office with an abstract that begins "Airports are a vital part of the nation's air transportation system and face many similar challenges. In 2003, the Airport Cooperative Research Program (ACRP) was authorized to conduct applied research to help airport operators solve shared challenges that are not addressed by other federal research. As requested, this report addresses (1) the extent to which ACRP's processes reflect criteria for conducting a high-quality research program and (2) ACRP's results to date and their usefulness for the aviation community. GAO reviewed ACRP documentation and compared ACRP processes to criteria previously developed by GAO that can be applied to research programs. These criteria identify three phases of the applied research process and steps to help produce high-quality results. GAO also reviewed ACRP projects and publications and interviewed ACRP stakeholders and airport officials."
Date: July 15, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Recovery Act: Contracting Approaches and Oversight Used by Selected Federal Agencies and States (open access)

Recovery Act: Contracting Approaches and Oversight Used by Selected Federal Agencies and States

A letter report issued by the Government Accountability Office with an abstract that begins "The American Recovery and Reinvestment Act of 2009 (Recovery Act), estimated to cost $862 billion over 10 years, is intended to stimulate the economy and create jobs. The Recovery Act provides funds to federal agencies and states, which in turn may award contracts to private companies and other entities to carry out the purposes of the Recovery Act. Contracts using Recovery Act funds are required to be awarded competitively to the maximum extent practicable. GAO was asked to examine the use and oversight of noncompetitive Recovery Act contracts at the federal and state levels. GAO determined (1) the extent that federal contracts were awarded noncompetitively; (2) the reasons five selected federal agencies (the Departments of Defense, Energy, and Health and Human Services; the National Aeronautics and Space Administration; and the Small Business Administration (SBA)) awarded noncompetitive contracts; (3) the oversight these agencies and their inspectors general (IG) provide for Recovery Act contracts; and (4) the level of insight five selected states (California, Colorado, Florida, New York, and Texas) have into the use of noncompetitive Recovery Act contracts."
Date: July 15, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
NextGen Air Transportation System: FAA's Metrics Can Be Used to Report on Status of Individual Programs, but Not of Overall NextGen Implementation or Outcomes (open access)

NextGen Air Transportation System: FAA's Metrics Can Be Used to Report on Status of Individual Programs, but Not of Overall NextGen Implementation or Outcomes

A letter report issued by the Government Accountability Office with an abstract that begins "To prepare for forecasted air traffic growth, the Federal Aviation Administration (FAA), in partnership with other federal agencies and the aviation industry, is planning and implementing the Next Generation Air Transportation System (NextGen), a new satellite-based air traffic management system that will replace the current radar-based system and is expected to enhance the safety and capacity of the air transport system. GAO was asked to review FAA's metrics for (1) tracking the status of NextGen programs and the implementation of NextGen capabilities, the reliability of those metrics, and any limitations or gaps and (2) measuring the performance and outcomes of NextGen capabilities that are implemented and any limitations. GAO analyzed FAA program progress reports and associated metrics for monitoring. GAO also reviewed agency performance and accountability reports and discussed internal performance reporting methods with FAA officials."
Date: July 27, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Rural Homelessness: Better Collaboration by HHS and HUD Could Improve Delivery of Services in Rural Areas (open access)

Rural Homelessness: Better Collaboration by HHS and HUD Could Improve Delivery of Services in Rural Areas

A letter report issued by the Government Accountability Office with an abstract that begins "The Homeless Emergency Assistance and Rapid Transition to Housing (HEARTH) Act of 2009 directed GAO to conduct a broad study of homelessness in rural areas. In this report, we provide information about rural homelessness issues, based in significant part on our work in rural areas within six selected states. Specifically, the report addresses the following questions: (1) What are the characteristics of homelessness in rural areas? (2) What assistance is available to individuals or families experiencing homelessness and what amount of funding have the federal departments and agencies awarded to organizations that assist persons experiencing homelessness in rural areas? (3) What barriers do persons experiencing homelessness and homeless service providers encounter when seeking assistance or funding to provide assistance? To address these issues, GAO reviewed relevant literature, conducted site visits, and interviewed agency officials."
Date: July 20, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Export-Import Bank: Reaching New Targets for Environmentally Beneficial Exports Presents Major Challenges for Bank (open access)

Export-Import Bank: Reaching New Targets for Environmentally Beneficial Exports Presents Major Challenges for Bank

A letter report issued by the Government Accountability Office with an abstract that begins "The Export-Import Bank (Ex-Im) provides financing to support U.S. exports, and its support for environmentally beneficial exports has been of long-standing congressional interest. In fiscal year 2008, Congress directed Ex-Im to allocate 10 percent of its annual financing to renewable energy and environmentally beneficial products and services. For fiscal years 2009 and 2010, it directed Ex-Im to allocate 10 percent to renewable energy and energy efficient end-use technologies. In 2009, it directed GAO to conduct a review of Ex-Im's efforts to meet congressional directives concerning environmental exports financing. This report addresses (1) the extent of Ex-Im's financing of renewable energy, energy efficient end-use technologies, and other environmentally beneficial exports; (2) Ex-Im's definitions for, and its reporting on, these exports; and 3) the extent to which Ex-Im has followed strategic planning key practices in its planning efforts in these areas. GAO analyzed Ex-Im transaction data and planning documents and interviewed officials from Ex-Im, other U.S. agencies, state-level trade promotion agencies, environmental industry associations, and other industry experts."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Defense Management: DOD Needs Better Information and Guidance to More Effectively Manage and Reduce Operating and Support Costs of Major Weapon Systems (open access)

Defense Management: DOD Needs Better Information and Guidance to More Effectively Manage and Reduce Operating and Support Costs of Major Weapon Systems

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Defense (DOD) spends billions of dollars each year to sustain its weapon systems. These operating and support (O&S) costs can account for a significant portion of a system's total life-cycle costs and include costs for repair parts, maintenance, and personnel. The Weapon Systems Acquisition Reform Act of 2009 directs GAO to review the growth in O&S costs of major systems. GAO's report addresses (1) the extent to which life-cycle O&S cost estimates developed during acquisition and actual O&S costs are available for program management and decision making; (2) the extent to which DOD uses life-cycle O&S cost estimates after systems are fielded to quantify cost growth and identify its causes; and (3) the efforts taken by DOD to reduce O&S costs for major systems. GAO selected seven aviation systems that reflected varied characteristics and have been fielded at least several years. These systems were the F/A-18E/F, F-22A, B-1B, F-15E, AH-64D, CH-47D, and UH-60L."
Date: July 20, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Mandate on Department of Housing and Urban Development's Alternative Credit Pilot Program (open access)

Mandate on Department of Housing and Urban Development's Alternative Credit Pilot Program

Correspondence issued by the Government Accountability Office with an abstract that begins "When potential borrowers apply for a mortgage loan, lenders typically use borrowers' credit scores--which are based on their credit payment histories, debt, length of credit history, new credit accounts or requests, and types of credit used--to help determine their creditworthiness. However, some borrowers have limited or no credit histories, and lenders are unable to determine their creditworthiness using this traditional method. For these nontraditional borrowers, lenders may assess creditworthiness through alternative means, including the compilation of performance on rental payments; utility, phone, and cable television bills; and insurance or tuition payments. While some lenders have developed statistical scoring methods to determine borrowers' creditworthiness based on these data, others rely on the judgment of their staff to make determinations on a case-by-case basis, according to Department of Housing and Urban Development (HUD) officials. HUD permits lenders that originate mortgages insured by HUD's Federal Housing Administration (FHA) to establish a borrower's credit history through alternative means and has provided guidance to FHA lenders for evaluating these nontraditional credit histories. According to HUD officials, 7,319 nontraditional borrowers were approved for FHA-insured mortgages in fiscal year 2009. Section 2124 of the Housing …
Date: July 30, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Federal Housing Finance Agency: Oversight of the Federal Home Loan Banks' Agricultural and Small Business Collateral Policies Could Be Improved (open access)

Federal Housing Finance Agency: Oversight of the Federal Home Loan Banks' Agricultural and Small Business Collateral Policies Could Be Improved

A letter report issued by the Government Accountability Office with an abstract that begins "The Federal Home Loan Bank System is a government-sponsored enterprise comprising 12 regionally-based Federal Home Loan Banks (FHLBank), the primary mission of which is to support housing finance and community and economic development. Each FHLBank makes loans (advances) to member financial institutions in its district, such as banks, which traditionally are secured by single-family mortgages. In 1999, the Gramm-Leach-Bliley Act (GLBA) authorized FHLBanks to accept alternative forms of collateral, such as agricultural and small business loans, from small members. GAO was asked to assess (1) factors that may limit the use of alternative collateral; and (2) selected aspects of the Federal Housing Finance Agency's, (FHFA) related regulatory oversight practices. GAO reviewed FHLBank policies and FHFA documentation; and interviewed FHLBank and FHFA officials, and a nongeneralizable random sample of 30 small lenders likely to have significant levels of agricultural or small business loans in their portfolios."
Date: July 20, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Millennium Challenge Corporation: Summary Fact Sheets for 17 Compacts (open access)

Millennium Challenge Corporation: Summary Fact Sheets for 17 Compacts

Correspondence issued by the Government Accountability Office with an abstract that begins "The Millennium Challenge Corporation (MCC), now in its seventh year of operations, is to provide aid to developing countries that have demonstrated a commitment to ruling justly, encouraging economic freedom, and investing in people. MCC provides assistance to eligible countries through multiyear compact agreements to fund specific programs targeted at reducing poverty and stimulating economic growth. MCC has received appropriations for fiscal years 2004 through 2010 totaling about $9.5 billion and has set aside about $8.1 billion of this amount for compact assistance. As of June 2010, MCC had signed compacts with 20 countries totaling approximately $7.1 billion; of the 20 compacts, 18 compacts had entered into force, obligating a total of approximately $6.3 billion. The President has requested approximately $1.3 billion in additional funds for MCC for fiscal year 2011, of which MCC plans to use about $1.1 billion for compact assistance to countries currently eligible for compacts."
Date: July 14, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library