FEDERAL

More documents

Recommendations

Info

No. Recommendation Report Status AUD-2013-004-1 FHFA should update its examination guide (Supervision Reference and Procedures Manual, Credit Risk- Multifamily), in consideration of industry standards, to include qualitative guidance for examiners to follow when determining the sampling size and testing coverage of loan files. FHFA’s Oversight of the Asset Quality of Multifamily Housing Loans Financed by Fannie Mae and Freddie Mac Recommendation agreed to by FHFA; implementation of recommendation pending. AUD-2013-004-2 FHFA should require examiners to maintain documentation adequate to support adherence to the sampling methodology developed in the updated examination guide. FHFA’s Oversight of the Asset Quality of Multifamily Housing Loans Financed by Fannie Mae and Freddie Mac Recommendation agreed to by FHFA; implementation of recommendation pending. AUD-2013-002-1 The FHFA contracting officer should review the total unallowable payments of $256,343 made to Advanced Technology Systems, Inc. (ATSC), under the contract/task order and recapture the amounts identified as not allocable ($21,329), unreasonable ($47,743), and unsupportable ($187,271). FHFA’s Oversight of Contract No. FHF- 10-F-0007 with Advanced Technology Systems, Inc. Recommendation agreed to by FHFA; implementation of recommendation pending. AUD-2013-002-2 The FHFA contracting officer should determine whether additional corrective actions are warranted to recapture additional unreasonable costs billed by ATSC to FHFA after November 2011. (OIG did not review charges submitted after November 30, 2011.) FHFA’s Oversight of Contract No. FHF- 10-F-0007 with Advanced Technology Systems, Inc. Recommendation agreed to by FHFA; implementation of recommendation pending. AUD-2013-002-3 The FHFA contracting officer’s representative should revisit this contract/task order and perform the necessary analysis to ensure that ATSC employees had the education background and experience as required under the General Services Administration master contract. The FHFA contracting officer should recapture all expenses, when applicable, paid to the contractor for employees working in positions without proper qualifications. FHFA’s Oversight of Contract No. FHF- 10-F-0007 with Advanced Technology Systems, Inc. Recommendation partially agreed to by FHFA; implementation of recommendation pending. Semiannual Report to the Congress • April 1, 2013–September 30, 2013 91
No. Recommendation Report Status AUD-2013-002-4 The Director of the Office of Budget and Financial Management should issue guidance to all acquisition staff and approving officials, including contracting officers and contracting officer’s representatives, on: • cost allocation and proper procedures for assigning costs to contracts in accordance with benefits received and based on the appropriate cost objective; • proper procedures for ensuring that contract employees meet labor category qualifications specified in time and material/labor hour contracts; • proper procedures for obtaining sufficient justification prior to increasing funds, adjusting fixed labor rates, and approving payments on time and material contracts; • appropriate procedures for evaluating contractor price proposals and documenting the agency’s pre-negotiation position prior to awarding contract modifications; and • appropriate use of contractor employees to substitute for internal agency positions and approving invoices based on contractual terms and provisions. FHFA’s Oversight of Contract No. FHF- 10-F-0007 with Advanced Technology Systems, Inc. Recommendation agreed to by FHFA; implementation of recommendation pending. AUD-2013-002-5 The FHFA contracting officer should remove the $105,000 of excess funds from contract line item number 1 to account for technical writing services ATSC was no longer required to perform under the contract line item number. Thereafter, the contracting officer should compare the new contract ceiling to the actual amount ATSC billed against contract line item number 1 and recapture any unallowable costs that exceed the new ceiling price. FHFA’s Oversight of Contract No. FHF- 10-F-0007 with Advanced Technology Systems, Inc. Recommendation agreed to by FHFA; implementation of recommendation pending. 92 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 6 and 7:
OIG’s Accomplishments from 2010 t
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
Page 56 and 57: multifamily housing lending busines
Page 58 and 59: The bill would replace the enterpri
Page 60 and 61: mortgage credit. For its part, the
Page 62 and 63: Figure 20. Reform Models and Reform
Page 64 and 65: Multifamily We have also found indi
Page 66 and 67: Based on recent history, a reformed
Page 68 and 69: Figure 26. The Mortgage Servicing P
Page 70 and 71: Even though the FHFA senior examine
Page 72 and 73: assistance to homeowners and to use
Page 74 and 75: positive NPV, then the servicer is
Page 76 and 77: Siloed Practices: Harmonizing Busin
Page 78 and 79: Semiannual Report to the Congress
Page 80 and 81: overseen by FHFA. As conservator, F
Page 82 and 83: Interest Rate Swap: An interest rat
Page 84 and 85: References Federal Deposit Insuranc
Page 86 and 87: Department of the Treasury Financia
Page 88 and 89: Acronyms and Abbreviations Agency A
Page 92 and 93: Figure 29. Summary of OIG Recommend
Page 94 and 95: No. Recommendation Report Status AU
Page 104 and 105: No. Recommendation Report Status EV
Page 114 and 115: Audit and Evaluation Reports with R
Page 116 and 117: Appendix D: OIG Reports See www.fhf
Page 118 and 119: Appendix F: Description of OIG Offi
Page 120 and 121: Strategic Goal 2—Operating with I
Page 122 and 123: Figure 17. Federal Home Loan Banks
Page 126 and 127: 15 Federal Housing Finance Agency,
Page 128 and 129: 33 Fannie Mae, “Multifamily Busin
Page 130 and 131: Federal Home Loan Banks Office of F
Page 132 and 133: to FHFA Scorecard Directive, at 48,
Page 134 and 135: it is preferable to limit our discu
Page 136 and 137: Position in the Housing Finance Sys
Page 138 and 139: 144 Fannie Mae, “Comparison of Mu
Page 140 and 141: 157 Id., “Mortgage Servicing,”
Page 142 and 143: 184 Federal Housing Finance Agency,
Page 144 and 145: Transparency and Certainty for Lend
show all

FEDERAL

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?