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Volume 14 - Number 20

October 3, 2014

FHFA Rejects Inspector General’s Call for Compliance Checks

The Federal Housing Finance Agency disagrees with its Inspector Generalís recommendation that the FHFA direct Fannie Mae and Freddie Mac to assess the cost/benefit of requiring their sellers and servicers to provide independent, third-party confirmation on compliance with government-sponsored enterprise origination and servicing guidance. The IG audit, quietly issued late last week, noted that the Securities and Exchange Commission and the Department of Housing and Urban Development, as well as private mortgage-backed securities investors in the secondary mortgage market, require annual, independent assurance of counterparty compliance.

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.