Is properly monitored by the FHFA
and tested with independent appraisals.
The letter stresses, "We therefore request that FHFA
direct the GSEs to reduce or eliminate LLPAs going forward.
For these reasons, we believe there are significant financial and reputational risks from the projected costs associated with Fannie Mae's relocation of its headquarters that warrant immediate, sustained comprehensive oversight from [the] FHFA
, the conservator of Fannie Mae," the OIG concluded.
30) HERA provides the statutory basis for the FHFA
to place Fannie Mae and Freddie Mac into either conservatorship or receivership.
In a statement, the FHFA
said that the settlement, "effectively makes Fannie Mae and Freddie Mac whole on their investments in the securities at issue.
plans to eventually expand the program to other parts of the country, Watt said.
acting director Edward DeMarco said in a statement .
This is a significant step to address outstanding mortgage-related issues," the FHFA
said in a statement.
JPMorgan and the FHFA
, which is pursuing claims on behalf of finance agencies Fannie Mae and Freddie Mac, have agreed on the amount as a tentative part of a potential $11 billion global settlement with government agencies, including the US Department of Justice.
index is a weighted, repeat-sales index, which measures average price changes from repeat sales and refinancing of the same properties.
In a comment letter to the FHFA
released this week, officials of OSC, a unit of Breckenridge Insurance Group, Kenesaw, Ga.
On September 7, 2008, James Lockhart, director of the Federal Housing Finance Agency (FHFA
), announced that Fannie Mae and Freddie Mac were being placed into conservatorship of the FHFA