The Federal Housing Finance Agency wants the government-sponsored enterprises and the Federal Home Loan Banks to hire chief information security officers to head their cybersecurity programs. The new directive was released just after the FHFA Office of Inspector General issued an audit faulting the regulator’s oversight of cybersecurity issues, and in the wake of further revelations about data breaches at Equifax and other large enterprises. The FHFA said Fannie Mae, Freddie Mac and the ...
Efforts by Congressional Republicans to expand exemptions to the Consumer Financial Protection Bureau’s new Home Mortgage Disclosure Act data collection and reporting requirements may or may not succeed. But any lender or aggregator seeking to sell eligible mortgages to the government-sponsored enterprises will still have to get with the program. Fannie Mae and Freddie Mac continue to tweak their systems and processes to accommodate the new mandates, scheduled to kick in Jan. 1 ...
As Fannie Mae and Freddie Mac shareholders inch closer to having hundreds of government documents released in pending shareholder lawsuits surrounding the conservatorship and preferred stock purchase agreement, they are more confident the court will rule in their favor. In the latest development in Fairholme Funds v. the United States, Federal Claims Court Judge Margaret Sweeney last week granted a motion to compel the disclosure of documents filed over the summer by ...
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