Volume 14 - Number 3
February 7, 2014
FHFA-OIG: GSEs Bought Billions in Loans Despite Appraisal Red Flags
Fannie Mae and Freddie Mac during two different periods last year spent nearly $20 billion buying roughly 85,000 loans despite clear warnings or questions about the appraisals, according to a new audit from the Inspector General of the Federal Housing Finance Agency. As part of its report, the FHFA-OIG has made 14 recommendations to FHFA regarding the matter, calling on the regulator to ensure the GSEs make better use of appraisal information generated by a uniform collateral data portal the agency told the two to develop in 2010.
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