Pursuits
FHFA Should Develop Policies to Govern Settlements, Report Says
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The Federal Housing Finance Agency should develop a formal review process for settlements that levy fees on lenders or take away their right to service home loans, according to a report from its watchdog.
The agency, which oversees government-backed mortgage firms Fannie Mae and Freddie Mac, should have more formal policies to govern how it decides what banks must pay for missing foreclosure timelines and other actions, according to a report from the agency’s inspector general, Steve Linick. The FHFA agreed to enact the conclusions.