Volume 2014 - Number 7
February 20, 2014
FHFAs Inspector General Wants Fannie and Freddie To Be More Aggressive in Assessing Buyback Late Fees
The Federal Housing Finance Agencys lax attention to Fannie Maes and Freddie Macs handling of aged repurchase demands has resulted in uncollected late fees charged to lenders, according to a new audit by the agencys Inspector General. The FHFA issued a contract harmonization directive in January 2012 calling for the two government-sponsored enterprises to develop consistent timelines and collection standards for fees and penalties and additional types of penalties and remedies. During contract harmonization discussions, the report noted...
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