GAO offers critiques of Obama housing relief programs

The GAO found in its report that participants in the Treasury’s Making Home Affordable program struggled with a database the department required them to use to identify loans eligible for assistance. In addition, it said Treasury data was “sometimes missing or questionable,” further complicating GAO’s ability to determine how well the programs are functioning.

“The reliability and integrity of some of Treasury’s information was questionable,” it said.

In addition, borrowers that might be eligible for assistance may not be aware of the program, further limiting its efficacy.

The study could come as a boon to House Republicans, who are pushing to eliminate several of the administration’s housing relief programs administered under the Troubled Asset Relief Program (TARP).

The House has passed three bills that would each eliminate such a program, with a fourth vote coming in two weeks, after the House returns from a weeklong recess. That measure would eliminate the Home Affordable Modification Program (HAMP), a key administration initiative.

The administration has maintained strong support for the programs and has vowed to veto each of the bills if they make it to his desk.