FEDERAL
Sixth Semiannual Report to the Congress - Federal Housing ...
Sixth Semiannual Report to the Congress - Federal Housing ...
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No. Recommendation Report Status<br />
AUD-2013-009-4<br />
To strengthen its enterprise<br />
information security and privacy<br />
programs, FHFA should consistently<br />
deploy the automated tools needed<br />
for ongoing monitoring and tracking<br />
of previously identified security and<br />
privacy issues in order to enhance<br />
the efficiency and effectiveness of the<br />
examination process.<br />
Action Needed to<br />
Strengthen FHFA<br />
Oversight of Enterprise<br />
Information Security<br />
and Privacy Programs<br />
Recommendation<br />
agreed to by FHFA;<br />
implementation of<br />
recommendation<br />
pending.<br />
AUD-2013-009-5<br />
To strengthen its enterprise<br />
information security and privacy<br />
programs, FHFA should establish and<br />
document a process for placing formal<br />
reliance on the work of internal audit<br />
divisions at the enterprises.<br />
Action Needed to<br />
Strengthen FHFA<br />
Oversight of Enterprise<br />
Information Security<br />
and Privacy Programs<br />
Recommendation<br />
agreed to by FHFA;<br />
implementation of<br />
recommendation<br />
pending.<br />
AUD-2013-008-1<br />
FHFA should develop a risk-based plan<br />
to monitor the enterprises’ oversight<br />
of their counterparties’ compliance<br />
with contractual representations and<br />
warranties, including those related to<br />
federal consumer protection laws.<br />
FHFA Should Develop<br />
and Implement a<br />
Risk-Based Plan<br />
to Monitor the<br />
Enterprises’ Oversight<br />
of Their Counterparties’<br />
Compliance<br />
with Contractual<br />
Requirements Including<br />
Consumer Protection<br />
Laws<br />
Recommendation<br />
agreed to by FHFA;<br />
implementation of<br />
recommendation<br />
pending.<br />
AUD-2013-007-1<br />
To improve servicer compliance with<br />
escalated case requirements, FHFA<br />
should perform supervisory review<br />
and follow up to ensure that Freddie<br />
Mac requires its servicers to report<br />
escalated consumer complaint<br />
information—to include a negative<br />
response if servicers have not received<br />
any escalated complaints—on a<br />
monthly basis.<br />
Enhanced FHFA<br />
Oversight Is<br />
Needed to Improve<br />
Mortgage Servicer<br />
Compliance with<br />
Consumer Complaint<br />
Requirements<br />
Recommendation<br />
agreed to by FHFA;<br />
implementation of<br />
recommendation<br />
pending.<br />
AUD-2013-007-2<br />
To improve servicer compliance with<br />
escalated case requirements, FHFA<br />
should perform supervisory review<br />
and follow up to ensure that Freddie<br />
Mac requires its servicers to resolve<br />
escalated consumer complaint<br />
information within 30 days.<br />
Enhanced FHFA<br />
Oversight Is<br />
Needed to Improve<br />
Mortgage Servicer<br />
Compliance with<br />
Consumer Complaint<br />
Requirements<br />
Recommendation<br />
agreed to by FHFA;<br />
implementation of<br />
recommendation<br />
pending.<br />
88 Federal Housing Finance Agency Office of Inspector General