Watchdog Details Mistakes In Fannie, Freddie Oversight

Law360, New York (December 13, 2011, 4:13 PM EST) -- The watchdog overseeing the Federal Housing Finance Agency told lawmakers Tuesday that the agency has too few examiners to adequately do its job of recouping mortgage losses at Fannie Mae and Freddie Mac and weaning the agencies off taxpayer life support.

The picture of the FHFA that emerged from the testimony of Steve Linick, the agency's inspector general, to a Senate panel is that of an understaffed and toothless regulator that too often defers to Fannie and Freddie on issues of executive pay, aid to homeowners...
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