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Recommendation Details
Text of Recommendation
FHFA should ensure that the Division of Enterprise Regulation uses its full range of available examination activities, including targeted examinations and when appropriate, enhanced risk monitoring, to provide comprehensive assessments of known areas of high risk, like Fannie Mae’s reliance on third-party vendors.
Recommendation Number
AUD-2021-007-1
Recommendation Status
Closed
Significant Recommendation
No
Associated Report Details
Submitting OIG
Federal Housing Finance Agency OIG
Linked Report
Despite FHFA’s Acknowledgement that Enterprise Reliance on Third-Parties Represents a Significant Operational Risk, No Targeted Examinations of Fannie Mae’s Third-Party Risk Management Program Were Completed Over a Seven-Year Period