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CED-81-29 1 (1980-12-18)

handle is hein.gao/gaobabbit0001 and id is 1 raw text is: 



REPORT BY THE U S.                                      j/CeoOs


General Accounting Office


Administrative Procedures And Controls

Need Strengthening To Reduce Losses

To HUD's Mortgage Insurance Fund


The Department of Housing and Urban Devel-
opment could save millions of dollars annually
by changing its procedures to eliminate pay-
ing interest on reimbursable foreclosure ex-
penses before the expenditures are made. Ad-
ditional savings are available if the Depart-
ment's centralized claim processing system
provided better control over the payment of
costs for preservation and security, inspections,
and taxes.

GAO reviewed payments made to mortgage
investors by both the Department and the Vet-
erans Administration to determine if oppor-
tunities exist to reduce losses to Federal mort-
gage insurance and guarantee programs. Rec-
ommendations are being made only to the De-
partment because GAO found that the Veter-
ans Administration was doing essentially what
GAO is recommending.


(     i     §'


     CED-81-29
DECEMBER 18, 1980


114003

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