FHFA Needs Better Fannie, Freddie Oversight, IG Says

Law360, New York (September 27, 2012, 1:54 PM EDT) -- The Federal Housing Finance Agency does not have sufficient tools in place to monitor business decisions made by Fannie Mae and Freddie Mac, the two failed mortgage giants over which the agency serves as conservator, an internal watchdog report released Thursday said.

The FHFA's Office of the Inspector General found that the agency, which has responsibility for helping to preserve Fannie and Freddie's assets and save taxpayer money, did not exert enough control over the two companies and let them enter into arrangements that could have...
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