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Volume 18 - Number 8

April 13, 2018

House Hearing Reveals Flaws in FHFA Oversight of Fannie, Freddie

The Federal Housing Finance Agency’s supervision and guidance of the GSEs lacks the rigor shown by other federal financial regulators, according to the FHFA’s inspector general, Laura Wertheimer. She testified during a House Financial Services subcommittee hearing this week focusing on the oversight of Fannie Mae and Freddie Mac. Throughout the hearing, Wertheimer and lawmakers pointed to a number of supervisory concerns and questioned the FHFA’s standards when it comes to monitoring the mortgage giants. “The flexible and less prescriptive nature of many FHFA standards and much of its guidance has resulted in inconsistent supervisory practices,” she said.

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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