The Waste List > Total Value of Government Waste: $57,322,568,479
Housing Assistance (Increase Availability of Mortgage Loans)
The following are 9 duplicative spending programs for Housing Assistance (Increase Availability of Mortgage Loans) across 8 agencies:
AgencyDetailsCost
Fannie Mae Purchase mortgage loans and issue mortgage-backed securities
Freddie Mac Purchase mortgage loans and issue mortgage-backed securities
Federal Home Loan Banks Provide advances to member institutions
Farm Credit System Institutions of the Farm Credit System, which include the Agricultural Credit Bank and Farm Credit Banks, provide financed credit to agricultural and rural communities.
Farm Credit System Insurance Corporation Ensure the timely payment of principal and interest on insured Farm Credit System debt obligations purchased by investors.
Federal Agricultural Mortgage Corporation (Farmer Mac) Purchases agricultural or rural housing mortgage loans and securitizes loans into guaranteed securities or agricultural mortgage-backed securities
Department of Housing and Urban Development Government National Mortgage Association (Ginnie Mae): Guarantee the timely payment of principal and interest on securities issued by private lenders and backed by pools of federally insured or guaranteed mortgage loans ($991,000,000)
Internal Revenue Service Mortgage subsidy bonds interest exclusion $1,230,000,000
Internal Revenue Service Veterans housing bonds interest exclusion $20,000,000

Source: Table 10, Appendix III, "Opportunities to Reduce Duplication, Overlap and Fragmentation, Achieve Savings, and Enhance Revenue," Government Accountability Office, 2/28/2012