Big Spending at Fannie, Freddie Should End, Watchdog Says
This article is for subscribers only.
The days of big spending on conferences and charity are over at Fannie Mae and Freddie Mac and the companies’ regulator should make sure it stays that way, the auditor of the Federal Housing Finance Agency said in two reports released today.
The FHFA Inspector General opened an investigation into travel spending at the government-owned mortgage companies last year after U.S. lawmakers complained that Fannie Mae and Freddie Mac spent over $600,000 to send more than 90 employees to a Mortgage Bankers Association conference in October.