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Fraud, Abuse, Or Retaliation
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Recommendation Details
Text of Recommendation
FHFA should ensure examiners perform and document examination activities to assess whether Freddie Mac implemented procedures reasonably designed to ensure that mortgage loans they purchase are covered by adequate flood insurance if the property is located in a Special Flood Hazard Area.
Recommendation Number
AUD-2024-009-2
Recommendation Status
Closed
Significant Recommendation
No
Recommendation Questioned Costs
$0
Recommendation Funds for Better Use
$0
Associated Report Details
Submitting OIG
Federal Housing Finance Agency OIG
Linked Report
DER’s Supervision and Oversight of the Enterprises’ Purchases of Single-Family Loans in Special Flood Hazard Zone Areas Were Effective, But Improvements Are Needed