The Government Accountability Office has recommended actions to strengthen management of the U.S. Department of Agriculture’s single-family mortgage guarantee program. In recent years, the USDA Rural Housing Service single-family mortgage guarantee program has grown significantly, and RHS currently manages a guaranteed rural-home portfolio of more than $100 billion. A recent GAO audit found that the estimated credit subsidy costs, or expected net lifetime costs, of the USDA Rural Housing Service’s guaranteed single-family mortgages have increased substantially in recent years due to high losses during the housing crisis. For example, the FY 2013 and 2014 reestimates – federal agencies are required by law to reestimate the credit subsidy annually – indicated higher than expected costs of $804 million and $615 million, respectively, compared with prior reestimates. In addition, the ...