FHFA Outlines Seven Challenges for 2023
Industry Update
October 14, 2022
Source: doddfrankupdate.com
The Federal Housing Finance Agency (FHFA), Office of the Inspector General (OIG) has published a memo identifying major challenges the agency, namely Fannie Mae and Freddie Mac (GSEs), expects to face in 2023.
The memo is issued by OIG annually, per a 2000 law, and is addressed to FHFA Director, Sandra Thompson. It identified seven management and performance challenges facing the FHFA, including:
- Effective supervision of regulated entities.
- Stewardship of the GSE conservatorship.
- Oversight of information risk for the regulated entities.
- Oversight of counterparty risk, third-party risk, and fourth-party risk for the regulated entities.
- Oversight of model risk for the regulated entities.
- Oversight of people risk for the regulated entities.
- Oversight of resiliency risk for the regulated entities.
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