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Diane Publishing Books
Federal Housing Finance Agencyäó»s (FHFAäó»s) Conservator Approval Process for Fannie Mae and Freddie Mac Business Decisions
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Russell A. Rau (ed)
The Federal National Mortgage Assoc. (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) lost billions of dollars when the housing market collapsed in 2007 and 2008. In response, Congress enacted the Housing and Economic Recovery Act of 2008 (HERA), which created the Federal Housing Finance Agency (FHFA) to regulate Fannie Mae and Freddie Mac (collectively, the Enterprises) in order to ensure their safety and soundness and facilitate a stable liquid mortgage market. On Sept. 6, 2008, the Enterprises entered into conservatorships supervised by FHFA. As conservator, FHFA has extensive authority over the Enterprisesäó» operations. However, in Nov. 2008, the Agency broadly delegated most of its conservatorship authority back to the Enterprises. As part of the delegation, FHFA required the Enterprises to obtain FHFA approval for selected business decisions, such as those involving legal settlements over $50 million and risk limit. This report audited FHFAäó»s process for approving these non-delegated enterprise business decisions. Tables. This is a print on demand report.
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Secret Agenda: One Man’s Fight Against High-Tech Terrorists & Their Biological & Nuclear Weapons of Mass Destruction
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Sexual Harassment: Women Speakout
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