FHFA OIG REPORT | Follow-up on Freddie Mac’s Loan Repurchase Process

Follow-up on Freddie Mac’s Loan Repurchase Process

FHFA and Freddie Mac have acted on the concerns raised in FHFA-OIG’s report by adopting a more expansive loan review process. Specifically, Freddie Mac changed its policies to review for potential repurchase claims significantly larger numbers of loans that defaulted more than two years after origination.

It is estimated that the more expansive loan review process will generate additional recoveries ranging from $0.8 billion to $1.2 billion for loans selected for review in 2012 and $2.2 billion to $3.4 billion overall. Because these recoveries had not been anticipated and accounted for, the added revenue will increase Freddie Mac’s profits and hence the amount paid to the U.S Department of the Treasury (Treasury).

Full report below…

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4closureFraud.org

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Follow-up on Freddie Mac’s Loan Repurchase Process

Comments
One Response to “FHFA OIG REPORT | Follow-up on Freddie Mac’s Loan Repurchase Process”
  1. brick wall says:

    where is the sista (Fannie) big butt in this fiasco? or is that the real money maker still fleecing the slaves hummm no child left behind at work here??? just saying bring on the real change all if this is slow motion

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