Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Housing: VA and HUD Can Improve Service and Reduce Processing Costs in Insuring Home Mortgage Loans: AFMD-82-15

Housing: VA and HUD Can Improve Service and Reduce Processing Costs in Insuring Home Mortgage Loans: AFMD-82-15

U. S. Government Accountability Office (G

Paperback

General Political Science

ISBN10: 1289125562
ISBN13: 9781289125561
Publisher: Bibliogov
Published: Jun 27 2013
Pages: 34
Weight: 0.18
Height: 0.07 Width: 7.44 Depth: 9.69
Language: English
GAO reviewed the underwriting activities used by the Veterans Administration (VA) and the Department of Housing and Urban Development (HUD) to grant and insure mortgage loans.
A large portion of the processing costs incurred by VA and HUD in insuring loans involves underwriting. VA and HUD rely mostly on their own staffs for underwriting rather than on lenders. By relying more on approved lenders, when practical, to perform the required underwriting activities, VA and HUD could save several million dollars annually and improve service to their borrowers without increasing their insurance risk. Approximately 40 percent of insured loans could be processed under delegated authority procedures. GAO believes that the agencies' control systems over lender underwriting activities, if properly adhered to, are adequate to minimize the risk of relying on approved lenders to perform the entire underwriting function. By having the agencies select the appraisers and make a field review of a sample of appraisals, protection would be provided against overvaluation of property.

7 different editions

Also available

Also in

General Political Science

View All