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Hearing Shows 'High Risk' FHA is a Threat to Hardworking Taxpayers
Just one day after the Financial Services Committee held its second hearing in as many weeks on the shaky finances of the Federal Housing Administration (FHA), the Government Accountability Office (GAO) announced it has added the FHA to its list of "High Risk" government programs. Every two years, GAO identifies programs that are at "high risk due to their greater vulnerability to fraud, waste, abuse and mismanagement or the need for transformation" to become more effective or efficient. Chairman Hensarling quickly put out a statement saying the designation "reinforces everything our committee has been saying about the FHA for some time now it is a high risk to taxpayers, it is a high risk to the mortgage insurance market and it represents a high risk to our economy
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Hearing Shows 'High Risk' FHA is a Threat to Hardworking Taxpayers
Just one day after the Financial Services Committee held its second hearing in as many weeks on the shaky finances of the Federal Housing Administration (FHA), the Government Accountability Office (GAO) announced it has added the FHA to its list of "High Risk" government programs. Every two years, GAO identifies programs that are at "high risk due to their greater vulnerability to fraud, waste, abuse and mismanagement or the need for transformation" to become more effective or efficient. Chairman Hensarling quickly put out a statement saying the designation "reinforces everything our committee has been saying about the FHA for some time now it is a high risk to taxpayers, it is a high risk to the mortgage insurance market and it represents a high risk to our economy
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