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Recommendation Details
Text of Recommendation
Based on the results of its workforce analysis, FHFA should conduct a written assessment of whether DER’s current budget for its supervision of high-risk models is sufficient.
Recommendation Number
EVL-2020-001-2
Recommendation Status
Closed
Significant Recommendation
No
Recommendation Questioned Costs
$0
Recommendation Funds for Better Use
$0
Additional Information
In its management response to this evalution, FHFA stated it would assess the report’s recommendations and provide a response by June 30, 2020. On September 22, 2020, we reposted this report with an Addendum that provides FHFA’s June 30, 2020, response and related communications. In summary, FHFA has planned an alternative approach that is generally responsive to the recommendations.
Associated Report Details
Submitting OIG
Federal Housing Finance Agency OIG
Linked Report
Despite FHFA’s Recognition of Significant Risks Associated with Fannie Mae’s and Freddie Mac’s High-Risk Models, its Examination of Those Models Over a Six Year Period Has Been Neither Rigorous nor Timely