The Federal Housing Finance Agency should coordinate with the FHA to establish a formal working group to permit both agencies to raise guaranty fees and insurance premiums as a way to reduce the federal government’s role in the mortgage-guaranty business, the FHFA’s official watchdog has recommended. The FHFA firmly disagrees. A new report by the FHFA’s Office of Inspector General this week noted “potential benefits” that the FHFA may achieve by establishing a “more formalized working arrangement” with the FHA and “jointly assessing the key issues around their pricing initiatives.” The Treasury Department made...