FHFA Needs More Examiners, Tougher Enforcement: Reports

Law360, New York (September 23, 2011, 3:27 PM EDT) -- The Federal Housing Finance Agency, which oversees the government-backed mortgage giants Fannie Mae and Freddie Mac, doesn't have enough examiners and hasn't cracked down on Fannie Mae's failures, its inspector general said in a pair of reports released Friday.

The FHFA's efforts to prevent one of the government-sponsored enterprises it oversees — Fannie Mae, more commonly known as the Federal National Mortgage Association — from mishandling its duties to control its risks has failed because the agency's actions have been toothless, according to one of the...
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