FHFA Examiner Shortfall Still Persists, IG Report Claims
National Mortgage News - July 29, 2015 - July 29, 2015
By Colin Wilhelm
The Federal Housing Finance Agency is still not producing enough adequately-trained examiners necessary to monitor Fannie Mae and Freddie Mac, four years after the agency’s inspector general first raised concerns about the issue, a new report claims.
The examiner commission program, founded in 2013 after an FHFA Office of Inspector General report found two-thirds of FHFA examiners lacked proper training, has thus far failed its mission to produce qualified examiners, the July 29 report finds. The examiners assess risk taken in transactions made by Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
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