Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

New GAO Reports – Regulators’ Foreclosure Review, DHS Acquisitions, Weapons Systems Management

  • FORECLOSURE REVIEW: Regulators Could Strengthen Oversight and Improve Transparency of the Process, GAO-14-376: Published: Apr 29, 2014. Publicly Released: Apr 29, 2014: “Rather than defining specific objectives for the $6 billion in foreclosure prevention actions regulators negotiated with servicers, regulators identified broad principles, including that actions be meaningful and that borrowers be kept in their homes. To inform the design of the actions, regulators did not analyze available data, such as servicers’ recent volume of foreclosure prevention actions, and did not analyze various approaches by which servicers’ actions could be credited toward the total of $6 billion. Most servicers GAO spoke with said they anticipated they would be able to meet their obligation using their existing level of foreclosure prevention activity. In their oversight of the principles, OCC and the Federal Reserve are verifying servicers’ foreclosure prevention policies, but are not testing policy implementation. Most Federal Reserve examination teams have not begun their verification activities and the extent to which these activities will incorporate additional evaluation or testing of servicers’ implementation of the principles is unclear. Regulators’ manuals and federal internal control standards note that policy verification includes targeted testing. Without specific procedures, regulators cannot assess implementation of the principles and may miss opportunities to protect borrowers.”
  • HOMELAND SECURITY ACQUISITIONS: DHS Could Better Manage Its Portfolio to Address Funding Gaps and Improve Communications with Congress, GAO-14-332: Published: Apr 17, 2014. Publicly Released: Apr 29, 2014.
  • WEAPON SYSTEMS MANAGEMENT: DOD Has Taken Steps to Implement Product Support Managers but Needs to Evaluate Their Effects, GAO-14-326: Published: Apr 29, 2014. Publicly Released: Apr 29, 2014.

Sorry, comments are closed for this post.