OIG Lauds FHFAs Steps to Boost GSE Exams, Room for Improvement
December 20, 2013
The Federal Housing Finance Agency has taken a number of positive steps to enhance and improve its deficient examination capacity of Fannie Mae and Freddie Mac, but the agency is still falling short of an optimal solution, according a new report by the Finance Agencys official watchdog. This weeks evaluation report by the FHFAs Office of Inspector General updates a September 2011 OIG audit that dinged the Finance Agency for shortfalls in its examination program, in particular its shortage of qualified examiners. The FHFAs examination program targeted examinations, continuous supervision, supervisory analysis and remediation activities is the primary means by which the agency supervises and regulates Fannie and Freddie.