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121488 1 (1983-05-25)

handle is hein.gao/gaobactaz0001 and id is 1 raw text is: 


             UNITED STATES GENERAL ACCOUNTING OFFICE
                     Washington, D.C.   20548


                                         FOR RELEASE ON  DELIVERY
                                         EXPECTED  MAY  25, 1983


                           STATEMENT OF
                    J. DEXTER PEACH, DIRECTOR
     RESOURCES, COMMUNITY, AND ECONOMIC DEVELOPMENT DIVISION

                            BEFORE THE

            HOUSE SUBCOMMITTEE ON MANPOWER AND HOUSING
                COMMITTEE ON GOVERNMENT OPERATIONS

                                ON

           DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
                       POLICIES CONCERNING
         MULTIFAMILY PROPERTY MANAGEMENT AND DISPOSITION

Mr. Chairman and Members of the Subcommittee:

     We are pleased to be here today to assist the Subcommittee

in its deliberations on the Department of Housing and Urban

Development's (HUD's) policies concerning multifamily property

management and disposition.  As requested, our testimony

addresses (1) work we have underway examining the basis for the

prices HUD receives on project sales and the financing mechanisms

involved, (2) the latest available status of delinquencies on

HUD's multifamily assigned mortgages,  (3) HUD's responsiveness to

our prior recommendations concerning loan servicing, and  (4) the

results of a recently issued report  (GAO/RCED-83-78, March 14,

1983) concerning HUD's contracting with the private sector for

loan servicing and accounting for HUD-held multifamily mortgages.

     HUD, pursuant to the provisions of the National Housing Act,

as amended, insures mortgage loans made by private lending

institutions on various types of housing.  For various reasons,




                                                       121488

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