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Regulatory Interpretations • Regulated Entities (Enterprises and/or Federal Home Loan Banks) and the Office of Finance Policy Subject Reference Date (2015) Description/Explanation/Comments Transfer of Mortgage Servicing Rights under the Acquired Member Asset Regulations 2015-RI- 01 June 23 The AMA regulation allows an FHLBank to authorize the transfer of mortgage servicing rights for loans purchased under an AMA program to a non-member of the Federal Home Loan Bank System, including to an entity that is not eligible for membership. The AMA regulation does not specifically address servicing requirements, and nothing in the rule specifically prohibits the transfer of servicing rights to a non-member of the Federal Home Loan Bank System. Thus, so long as the transfer is accomplished in such a way that the associated mortgage loans continue to comply with the requirements in the AMA regulation, including the creditenhancement requirements, an FHLBank may allow the transfer of servicing rights to an entity that is not a member of the Federal Home Loan Bank System. 58 FEDERAL HOUSING FINANCE AGENCY
SUPERVISION AND OVERSIGHT Policy Guidance • Regulated Entities (Enterprises and/or Federal Home Loan Banks) and the Office of Finance Policy Subject Reference Date (2015) Description/Explanation/Comments Advisory Bulletin on Fraud Risk Management AB 2015- 07 September 29 Communicates FHFA’s supervisory expectations to the Enterprises for fraud risk management, including the establishment and maintenance of internal controls to prevent, deter, and detect fraud or possible fraud Advisory Bulletin on Information Technology Investment Management AB 2015- 06 September 21 Communicates FHFA’s supervisory expectations that each Enterprise’s information technology management will include sound governance and effective monitoring and reporting that reflect relevant risk assessments of the Enterprise. Advisory Bulletin on Federal Home Loan Bank Core Mission Achievement AB 2015- 05 July 14 Communicates FHFA’s supervisory expectations to the FHLBanks on core mission achievement, in conjunction with FHFA’s Advisory Bulletin 2010-AB-02, Strategic Plans. This Advisory Bulletin also describes how FHFA will assess the FHLBanks’ core mission achievement, as well as FHFA’s expectations about the content of the strategic plans for the FHLBanks with core mission assets below specified levels. Advisory Bulletin on Federal Home Loan Bank Unsecured Credit Exposure Reporting AB 2015- 04 June 26 Communicates FHFA’s supervisory expectations to the FHLBanks and the OF on fulfilling the FHFA’s regulations that pertain to reporting requirements and monitoring requirements. Also described are changes to the manner in which unsecured credit exposures are to be reported. This Advisory Bulletin replaced and superseded the 2002 Finance Board guidance on unsecured credit reporting requirements. Advisory Bulletin on Rescission of Division of Enterprise Regulation Guidance Documents AB 2015- 03 March 26 Rescinds five examination guidance documents issued between 2000 and 2008 by the Office of Federal Housing Enterprise Oversight relating to the examination of the Enterprises. Advisory Bulletin on Enterprise Fraud Reporting AB 2015- 02 March 26 Communicates FHFA’s guidance on fraud reporting requirements for the Enterprises. This Advisory Bulletin rescinds and replaces FHFA’s 2011 Regulatory Policy Guidance relating to Reporting of Fraudulent Financial Instruments as it applies to the Enterprises. Advisory Bulletin on FHLBank Fraud Reporting AB 2015- 01 February 12 Communicates FHFA’s guidance on fraud activity reporting for the FHLBanks. This Advisory Bulletin rescinds and replaces FHFA's 2011 Regulatory Policy Guidance relating to Reporting of Fraudulent Financial Instruments as it applies to the FHLBanks. REPORT TO <strong>CONGRESS</strong> • 2015 59
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