The Federal Housing Finance Agency (FHFA) is looking to establish an Office of the Ombudsman. The FHFA is proposing a that would set up this division and also sets forth the authority and duty of the Ombudsman — who will field complaints from Fannie Mae, Freddie Mac, the Federal Home Loan Banks, the Office of Finance, and any person that has a business relationship with a regulated entity or the Office of Finance. An Ombudsman serves as an independent intermediary and arbitrator in conflicts, and in this case is funded by the FHFA. The Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, requiring the Director of FHFA to establish an Office of Ombudsman. Comments must be received 30 days after publication in the Federal Register. Write to Jacob Gaffney. The author holds no relevant investments.

Most Popular Articles

Are mortgage rates about to hit an all-time low?

The lowest mortgage rates have ever been was around Thanksgiving 2012 when the interest rate for a 30-year fixed-rate mortgage fell to 3.31% (according to Freddie Mac data), but rising panic over the coronavirus could drive rates to lows never seen before. HW+ Premium Content

Feb 25, 2020 By

Latest Articles

Has Bloomberg gotten anything right about housing?

In this week’s column, HousingWire Columnist Logan Mohtashami responds to presidential candidate Mike Bloomberg’s comments on the financial crisis, providing his own view on how the market crashed and how to keep it from ever happening again.

Feb 26, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please