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Volume 14 - Number 20

October 3, 2014

IG Calls for Closer FHFA Oversight Of Freddie Mac’s IT Investments

The Federal Housing Finance Agency can and should improve its oversight of Freddie Mac information technology investments, concluded a new audit by the agency’s official watchdog. Last week’s Inspector General audit noted that Freddie is making “substantial investments” in IT in order to better support its operations and reduce risk. The GSE’s planned IT expenditures over three years are expected to exceed $1 billion, the IG added.

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

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