If it's Thursday these must be...
....yep, miscellaneous federal housing announcements. To wit:
- HAC notes this link to USDA's unnumbered letters for October and calls special attention to the letter of Oct. 22 on the Rural Development Capital Needs Assessment Process. No, there's not much in the equivalent file for November except that folks working with Sec. 521 probably already know they have to submit information by Dec. 9 describing any improper payments and what they did about them.
- GAO has some worries about Ginnie Mae's loss of volume.
- This is a single-family item, but it's interesting as a sign of the times: HUD has just approved two new entities -- the National Foundation for Credit Counseling and Money Management International -- to provide counseling on risky Home Equity Conversion Mortgages ("reverse mortgages") anywhere in the country. Previously AARP was the only entity authorized to provide such counseling nationwide, though other entities and organizations were allowed to provide the counseling under narrower conditions.
- Back on Nov. 15, the HUD Inspector General's internal audits page posted "additional details" that it states are a supplement to a previous report on HUD's 2005 and 2004 financial statements. (Odd: the page lists previous audits of the FHA's and Ginnie Mae's statements, but not an audit of the whole shebang. Anyone know why?) This Nov. 15 report contains a number of scoldings about failures to take back or "deobligate" HUD funds that have been issued but not verifiably spent as authorized. Among these, the harshest comments have to do with the Sec. 236 Interest Reduction Program -- so, folks involved with same, best go take a look.
- HAC notes this link to USDA's unnumbered letters for October and calls special attention to the letter of Oct. 22 on the Rural Development Capital Needs Assessment Process. No, there's not much in the equivalent file for November except that folks working with Sec. 521 probably already know they have to submit information by Dec. 9 describing any improper payments and what they did about them.
- GAO has some worries about Ginnie Mae's loss of volume.
- This is a single-family item, but it's interesting as a sign of the times: HUD has just approved two new entities -- the National Foundation for Credit Counseling and Money Management International -- to provide counseling on risky Home Equity Conversion Mortgages ("reverse mortgages") anywhere in the country. Previously AARP was the only entity authorized to provide such counseling nationwide, though other entities and organizations were allowed to provide the counseling under narrower conditions.
- Back on Nov. 15, the HUD Inspector General's internal audits page posted "additional details" that it states are a supplement to a previous report on HUD's 2005 and 2004 financial statements. (Odd: the page lists previous audits of the FHA's and Ginnie Mae's statements, but not an audit of the whole shebang. Anyone know why?) This Nov. 15 report contains a number of scoldings about failures to take back or "deobligate" HUD funds that have been issued but not verifiably spent as authorized. Among these, the harshest comments have to do with the Sec. 236 Interest Reduction Program -- so, folks involved with same, best go take a look.
posted by Martha Bridegam at 10:34 AM
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