The Federal Housing Finance Agency should not have approved Fannie Mae’s July request to sell its three buildings in Northern Virginia and consolidate to newly constructed office space, according to a new management alert from the FHFA Office of Inspector General.The report, published late last week, questioned the decision to allow Fannie to consolidate and relocate to newly leased space, built out to specifications. The IG noted that Fannie failed to demonstrate that the move would be in the best interest of taxpayers. In fact, the report said four officials in the FHFA’s Division of Conservatorship told the IG that Fannie faced no “action forcing” event that required it...
The boards of Fannie Mae and Freddie Mac have begun their searches for new CEOs but the odds of finding successful candidates quickly are extremely low, according to industry stakeholders.
Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…
A new Federal Housing Finance Agency inspector general report highlights some potential risks in Freddie Mac’s Integrated Mortgage Insurance, or IMAGIN, program. Although it discusses some of the criticism leveled at the program, the IG report doesn’t take sides.
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