FHFA’s Oversight of the Enterprises’ Management of High-Risk Seller/Servicers
In accordance with the Housing and Economic Recovery Act of 2008 (HERA), which amended the Inspector General Act of 1978, FHFA-OIG is authorized to conduct audits, evaluations, investigations, and other law enforcement activities pertaining to FHFA’s programs and operations.1 FHFA-OIG is also authorized to recommend policies that promote economy and efficiency, and to prevent and detect fraud and abuse.
This audit report is in furtherance of FHFA-OIG’s mission to promote the economy, efficiency, and effectiveness of FHFA’s programs and operations, and, in accordance with FHFA-OIG’s first strategic goal, it adds value by helping the Agency improve the Enterprises’ economic health. Specifically, the report is intended to strengthen FHFA’s oversight of how the Enterprises protect themselves from high-risk and high-volume counterparties that sell and/or service mortgage loans. Doing business with such counterparties increases the Enterprises’ risk of financial loss, which in turn can lead to their need to draw more taxpayer support from the U.S. Department of the Treasury.2 This report identifies ways that FHFA can protect the taxpayers’ investment better by helping the Enterprises manage their risks better.
FHFA-OIG appreciates the cooperation of everyone who contributed to the audit, including officials at Fannie Mae, Freddie Mac, and FHFA. This audit was led by Heath Wolfe, Assistant Inspector General for Audits, who was assisted by Andrew W. Smith, Auditor-in-Charge.
Full report below…
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4closureFraud.org
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FHFA’s Oversight of the Enterprises’ Management of High-Risk Seller/Servicers
The WORLD BANK/FED CREDIT SYSTEM is not a MONETARY SYSTEM…It was create by the rich and instituted by the politicians for the rich, for a reason.. to give people the illusion that credit is wealth. Credit is not wealth. However, WALL STREET OVERSOLD CREDIT to fraudulently inflate the values of everything. That is just one reason why their debts cannot be lawfully collected, they devalued the value of everything by committing a quadrillion dollars in CREDIT FRAUD….Everything is in reality worth ZERO because WALL STREET COMMITTED MASSIVE CREDIT FRAUD….THERE IS NO COLLATERAL BACKING UP THEIR CLAIMS…THEIR DEBTS ARE UNSUSTAINABLE …THEY CAN NEVER BE REPAID..Because of that massive QUADRILLION DOLLARS IN CRIMINAL FRAUD by WALL STREET…the FED IS ENGAGING IN MORE CRIMINAL FRAUD WITH THEIR FRAUDULENT RECYCLING OF THEIR INSOLVENT DEBTS…..THEY MUST BE STOPPED FROM ROBBING THE AMERICAN PEOPLE BECA– USE……..THE FED IS A BANKRUPT INSTITUTION & BANKRUPT INSTITUTIONS HAVE NO ASSETS…THEY MUST BE STOPPED BECA– USE THE TREASURY, THE FED AND WALL STREET ARE ENGAGED IN CRIMES AND COVERING UP CRIMES WITH INTENT TO DO PERMANENT HARM TO THE AMERICAN PEOPLE BY COMMITTING MORE CRIMINAL FRAUD…THEY ARE ENGAGED IN ACTS OF RICO AGAINST THE AMERICAN PEOPLE. THE POLITICIANS ARE AIDING & ABETTING THESE CRIMES BY DOING NOTHING TO STOP THIS.