Advanced Search

Volume 14 - Number 21

October 17, 2014

UI Dings IG Audit of FHFA Rep-and-Warrant Framework as ‘Incomplete’

In an unusual move, a Washington, DC, think tank has publicly taken to task the official watchdog of the Federal Housing Finance Agency, finding a recent audit of the FHFA’s representation-and-warranty policy “incomplete.” The September report by the FHFA’s Inspector General concluded that the Finance Agency’s implementation of the rep-and-warrant framework was premature and resulted in “significant and unresolved operational risks” to Fannie Mae and Freddie Mac. An analysis by the Urban Institute found that the OIG’s conclusions were “incomplete and overstate the risk of the plan.”

Subscribers to Inside The GSEs have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?

Subscribe

This biweekly covers the housing-related government-sponsored enterprises with experienced, expert analysis.

 

Pay-Per-View

You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744

Poll

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.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results