Articles Tagged with ''FHFA OIG''

Inspector questions Fannie Mae’s new controversial Washington D.C. headquarters

FHFA Director responds to negative feedback from FHFA OIG
An updated report from the Federal Housing Finance Agency Office of Inspector General thrust issues surrounding Fannie Mae's new headquarters back into the spotlight. The report further fuels those in Congress who say the building costs are excessive and expensive to taxpayers. FHFA Director Mel Watt, however, adamantly disagrees.
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FHFA "strongly disagrees" with questioning Fannie Mae's motives for HQ construction

Watt responds to watchdog's allegations
In a wide-ranging report released Thursday, the FHFA Office of Inspector General seemingly questioned the motives of Fannie Mae surrounding the construction of its new headquarters in Washington, D.C. In a response to the OIG report, FHFA Director Mel Watt balks at the veiled questioning of Fannie Mae's motives, saying he "strongly disagrees" with the assertion that Fannie Mae has "little incentive" to hang on to its money.
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FHFA watchdog blasts lax oversight of rising Fannie Mae headquarters construction costs

FHFA-OIG: Projected cost carries "significant financial and reputational risks"
The Federal Housing Finance Agency has been lax in its duties as the overseer of Fannie Mae, and needs to do far more to address the dramatically rising cost of Fannie Mae's new Washington, D.C. headquarters, the FHFA's watchdog said in a new report. Here are all the details.
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FHFA watchdog: GSEs still at risk of TBW-style scams

Counterparty risk still real threat
In a new report, the FHFA’s watchdog warns that the government-sponsored enterprises and their government counterpart, Ginnie Mae, must make improvements in several areas to avoid a recurrence of the multi-billon dollar losses that were suffered at the hands of Taylor, Bean & Whitaker chairman Lee Farkas, who is now behind bars, and his co-conspirators.
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FHFA watchdog raises concerns about nonbanks

Explosive growth of nonbank lenders comes with risks to GSEs
The increase of nonbank and smaller lenders has its positives and negatives, according to the FHFA-OIG. Nonbanks reduce the concentration of the financial exposure to the GSEs' largest counterparties, but there are credit, operational and reputational risks.
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