Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Government-Sponsored Enterprises: Development of the Federal Housing Enterprise Financial Regulator

  Premium   Download PDF Now (35 pages)
Report Type Reports and Testimonies
Report Date May 30, 1995
Report No. GGD-95-123
Subject
Summary:

GAO is required to audit the operations of the Office of Federal Housing Enterprise Oversight, which was established in 1992 as an independent financial regulator of the nation's two largest government-sponsored enterprises--the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. As of December 1994, the enterprises held combined assets and mortgage-backed securities of more than $1.3 trillion. This report examines the Office's development, focusing on the progress made in designing and instituting key management systems. These include the Office's administrative infrastructure systems--the human resources and accounting and financial management systems--and the major mission-related systems--examinations and capital adequacy. The report also provides an overview of the Office's compliance with other operational and reporting requirements.

« Return to search Government Accountability Office reports