FEDERAL

Section 1: OIG Description, Accomplishments,
and Strategy
Description
OIG began operations on October 12, 2010. It was
established by the Housing and Economic Recovery
Act (HERA), which amended the Inspector
General Act. OIG conducts audits, evaluations,
investigations, and other law enforcement activities
relating to FHFA’s programs and operations.
OIG’s operations are funded by annual assessments
that FHFA levies on the enterprises and the
FHLBanks pursuant to 12 U.S.C. § 4516. For
fiscal year 2013, OIG’s operating budget (see Figure
1, below) was $48 million, with 150 full-timeequivalent
staff.
Figure 1. OIG’s Operating Budget for
Fiscal Year 2013
Supplies and Materials
2%
Equipment
3%
Travel and Transportation
of Things
2%
Linick, who was sworn into office on October 12,
2010. Mr. Linick resigned on September 29, 2013,
and his Principal Deputy Inspector General, Michael
P. Stephens, commenced acting in the capacity of
Inspector General pursuant to 5 U.S.C. § 3345(a)(1).
Mr. Stephens was appointed as Principal Deputy
Inspector General in September 2011. Prior to
his joining OIG, Mr. Stephens served as Acting
Inspector General and Deputy Inspector General
for the Department of Housing and Urban
Development (HUD). Earlier, he was the Deputy
Assistant Inspector General for Investigations for the
Department of Veterans Affairs and a senior criminal
investigator for the Office of Inspector General for
the Resolution Trust Corporation. Each of these
appointments followed a distinguished 20-year
career with the Secret Service, during which he held
the distinction of being assigned to the Presidential
Protection Division at the White House, along with
various supervisory positions within the agency.
Contracts
17%
Fixed
Operational
Costs a
19%
Federal Staff
57%
OIG consists of the Acting Inspector General, his
senior staff, and OIG offices, principally: the Office
of Audits (OA), the Office of Evaluations (OE), and
the Office of Investigations (OI). Additionally, OIG’s
Executive Office and the Office of Administration
provide organization-wide supervision and support.
(See Appendix E for OIG’s organizational chart and
Appendix F for a detailed description of OIG’s offices
and strategic goals.)
a
Fixed operational costs include items such as space rent
and shared service agreements.
Leadership and Organization
On April 12, 2010, President Barack Obama
nominated FHFA’s first Inspector General, Steve A.
Accomplishments and Strategy
From April 1, 2013, to September 30, 2013, OIG’s
significant accomplishments included: (1) issuing 16
audit, evaluation, and other reports; (2) participating
6 Federal Housing Finance Agency Office of Inspector General