OIG auditors identify critical weaknesses in the security of FHFA’s public-facing websites and inadequate coordination between the agency, the Federal Home Loan Banks and federal financial regulators.
Under Director Pulte, FHFA has withdrawn proposed rules affecting enterprise liquidity requirements and the unsecured credit limits and boards of directors of the FHLBank System.
The GSEs continue the modernization of the datasets critical to the mortgage industry, including updates that will be key to the implementation of multiple credit scores for mortgage borrowers.
The agency is appealing a jury verdict awarded to GSE shareholders for losses related to the net worth sweep. FHFA is also facing a lawsuit tied to an untimely response to a FOIA request.
Trade groups representing credit unions pushed back against suggestions that the institutions are creating risks, and called for status quo on certain GSE policies post-conservatorship.
Although FHFA Director Bill Pulte recently put the value of the GSEs at $1 trillion, most estimates are between $300 billion and $600 billion. Meanwhile, Commerce Secretary Howard Lutnick suggested that only a small portion of the GSEs will be sold via a stock offering.
Attorneys representing those accused of mortgage fraud by FHFA Director Bill Pulte are calling for an investigation into what they say is abuse of his office.
According to experts, there are still many impediments to implementing the new VantageScore 4.0 credit score. And some claim the new score is no better than the existing Classic FICO.
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