House Financial Services Subcommittee Holds Housing Oversight Hearing with HUD and FHFA Inspectors General

The U.S. House Committee on Financial Services’ Subcommittee on Housing and Insurance held a hearing, “Housing Oversight: Testimony of the HUD and FHFA Inspectors General,” on June 26. The hearing focused on findings issued by the Offices of Inspectors General (OIGs) overseeing HUD and the Federal Housing Finance Agency (FHFA). The witnesses included Rae Oliver Davis, Inspector General of HUD, and Brian M. Tomney, Inspector General of FHFA. 

Chair Warren Davidson (R-OH) opened the hearing by underscoring the importance of Inspectors General holding the government accountable and ensuring that government agencies such as HUD, which provides housing to over 4.3 million low-income families through the public housing program, and FHFA, which oversees over 70% of the federal housing market, maintain a line of stability and security. 

Subcommittee Ranking Member Emanuel Cleaver II (D-MO) followed up by clearly stating that we will never reduce or eradicate poverty and address the national homelessness crisis until the federal government addresses the deficit in affordable housing. Representative Maxine Waters (D-CA), ranking member of the House Financial Services Committee, urged the Committee to take action and pass her NLIHC-endorsed bills, the “Ending Homelessness Act” (H.R. 4232) and the “Housing Crisis Response Act” (H.R. 4233), along with the “Downpayment Toward Equity Act” (H.R. 4231). 

In her testimony, HUD Inspector General Davis highlighted the need for significant investment in public housing, noting that nearly all public housing needs major repairs. She also testified that her office is interested in ensuring that HUD maintains maximum efficiency and integrity in its operations. FHFA Inspector General Brian Tomney applauded the agency for achieving better administrative results while committing to meeting his office’s recommendations. He noted that an integral part of his work includes collaborating with HUD, FBI, and other federal agencies to investigate and pursue justice for victims of fraud. 

Representative Rashida Tlaib (D-MI) raised the issue of lead exposure in HUD homes, something that is particularly salient in constituent city Detroit, where one in 20 children tested positive for elevated lead levels. When asked for her office’s recommendations, Inspector General Davis acknowledged that addressing lead poisoning is an important part of her environmental justice initiative.

When discussing the severe shortage of affordable housing that his constituents in Nevada face, Representative Steven Horsford (D-NV) cited NLIHC’s 2024 Gap report. “In my home state of Nevada, we are bearing the brunt of this country’s affordable housing crisis,” noted Representative Horsford. “There are only 13 affordable and available rental homes for every 100 households living in southern Nevada according to the National Low Income Coalition’s 2024 Gap Report.” Rep. Horsford also urged the committee to take action on “Housing Market Transparency Act” (H.R.8500) to expand the availability of data on the Low-Income Housing Tax Credit (LIHTC) program. 

Watch a recording of the hearing at:

Read the Committee Memorandum and read the witness testimonies at: