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OIG’s Accomplishments from 2010 to Present 27 Audits 23 4 5 4 Systemic Evaluation Evaluations White Papers Investigations Implication Surveys Reports (SIRs) Work Reports by Subject Area Results 63 Reports $3.6 billion Restitutions 149 Recommendations 311 Investigations 132 Subpoenas 157 Indictments/Charges 86 Convictions/Pleas 4 Civil Cases 27 Regulatory Activities 6 Additional Actions Conservatorship and Enterprise Oversight Conservatorship 8 Evaluations 3 Evaluation Surveys 3 White Papers Credit Risk 5 Audits 3 Evaluations Interest Rate Risk 1 Evaluation 1 White Paper Operational Risk 2 Audits 3 Evaluations 1 SIR Real Estate Owned 2 Audits 1 White Paper 1 SIR FHLBank System Oversight Conservatorship 1 Evaluation Credit Risk 2 Audits 2 Evaluations 1 SIR Housing Mission and Goals 1 Evaluation FHFA Internal Operations Conservatorship 1 Audit Operational Risk 10 Audits 1 Evaluation Survey $2.8 billion Recoveries $6.5 million Financial Settlements $20.9 million Other* *Other is comprised of funds put to better use, questioned costs, unsupported costs, and fines. Housing Mission and Goals 2 Evaluations Mortgage Servicing 5 Audits 2 Evaluations 1 SIR Semiannual Report to the Congress • April 1, 2013–September 30, 2013 v
vi Federal Housing Finance Agency Office of Inspector General
Page 2 and 3: Federal Housing Finance Agency Offi
Page 4 and 5: Section 3: Lessons for Housing Fina
Page 8 and 9: A Message from the Acting Inspector
Page 10 and 11: insures mortgages against credit lo
Page 12 and 13: Semiannual Report to the Congress
Page 14 and 15: in a number of criminal and civil i
Page 16 and 17: Figure 3. Scoring of Investor Quali
Page 18 and 19: and provide for financial consequen
Page 20 and 21: Figure 5. Agreements Between Fannie
Page 22 and 23: 2010 to 2012, but the attrition rat
Page 24 and 25: Figure 8. Estimated Enterprise Aggr
Page 26 and 27: operations that pose the greatest r
Page 28 and 29: poor financial condition, Appalachi
Page 30 and 31: fraud and wire fraud involving a fi
Page 32 and 33: This was a joint investigation with
Page 34 and 35: y falsified, forged, and altered do
Page 36 and 37: Short Sale Schemes A short sale occ
Page 38 and 39: This was a joint investigation with
Page 40 and 41: at Appalachian concealed past due l
Page 42 and 43: indemnification payments that OIG p
Page 44 and 45: the SEC, and others. In July 2013,
Page 46 and 47: Figure 10. Overview of the Enterpri
Page 48 and 49: Figure 12. Enterprises’ Annual Ne
Page 50 and 51: Figure 14. Home Price Index 2011 Th
Page 52 and 53: educe the principal balance of Trea
Page 54 and 55: Figure 17. FHLBanks’ Net Income f
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multifamily housing lending busines
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The bill would replace the enterpri
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mortgage credit. For its part, the
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Figure 20. Reform Models and Reform
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Multifamily We have also found indi
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Based on recent history, a reformed
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Figure 26. The Mortgage Servicing P
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Even though the FHFA senior examine
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assistance to homeowners and to use
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positive NPV, then the servicer is
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Siloed Practices: Harmonizing Busin
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Semiannual Report to the Congress
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overseen by FHFA. As conservator, F
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Interest Rate Swap: An interest rat
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References Federal Deposit Insuranc
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Department of the Treasury Financia
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Acronyms and Abbreviations Agency A
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Figure 29. Summary of OIG Recommend
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No. Recommendation Report Status AU
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No. Recommendation Report Status EV
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Audit and Evaluation Reports with R
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Appendix D: OIG Reports See www.fhf
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Appendix F: Description of OIG Offi
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Strategic Goal 2—Operating with I
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Figure 17. Federal Home Loan Banks
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15 Federal Housing Finance Agency,
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33 Fannie Mae, “Multifamily Busin
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Federal Home Loan Banks Office of F
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to FHFA Scorecard Directive, at 48,
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it is preferable to limit our discu
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Position in the Housing Finance Sys
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144 Fannie Mae, “Comparison of Mu
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157 Id., “Mortgage Servicing,”
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184 Federal Housing Finance Agency,
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Transparency and Certainty for Lend
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