About Us > The Office of Inspector General (OIG)


FHFA-OIG is comprised of the Inspector General, the IG's senior staff, and the FHFA-OIG Offices. FHFA-OIG’s principal operating offices are the Office of Audits, the Office of Evaluations, the Office of Investigations, the Office of Risk Analysis, and the Office of Compliance and Special Projects. Offices with organization-wide responsibilities are the Executive Office, the Office of Administration, and the Office of Internal Controls and Facilities.

Office of Audits

The Office of Audits provides a full range of professional audit and attestation services covering the programs and operations of FHFA. Through its financial and performance audits and attestation engagements, the Office of Audits seeks to: (1) promote economy, efficiency, and effectiveness in the administration of FHFA’s programs; (2) detect and deter fraud, waste, or abuse in FHFA’s activities and operations; and (3) ensure compliance with applicable laws and regulations. Under the Inspector General Act, inspectors general are required to comply with the Government Auditing Standards, commonly referred to as the “Yellow Book,” issued by the Government Accountability Office. The Office of Audits performs its audits and attestation engagements in accordance with the Yellow Book.

Office of Evaluations

The Office of Evaluations provides independent and objective reviews, studies, and analyses of FHFA’s programmatic and operational activities. The Office’s evaluations are generally limited in scope and completed more quickly than traditional audits.

The Inspector General Reform Act of 2008 requires that inspectors general adhere to the Quality Standards for Inspection and Evaluation, commonly referred to as the “Blue Book,” issued by the Council of the Inspectors General on Integrity and Efficiency. The Office of Evaluations performs its evaluations in accordance with the Blue Book.

Office of Investigations

The Office of Investigations investigates allegations of misconduct and fraud involving the programs and operations of FHFA and the GSEs. The Office of Investigations adheres to the Council of the Inspectors General on Integrity and Efficiency’s Quality Standards for Investigations and guidelines issued by the Attorney General.

The Office’s investigations focus on allegations of wrongdoing and may address administrative, civil, and criminal violations of laws and regulations. The target of an FHFA-OIG investigation can be any agency employee, contractor, or consultant or any person or entity involved in alleged wrongdoing affecting FHFA’s or the GSEs’ programs and operations. To date, the Office of Investigations has opened numerous criminal and civil investigations, which by their nature are not made public. These investigations involve issues such as accounting fraud, mail fraud, wire fraud, securities fraud, bank fraud, mortgage fraud, false statements, obstruction of justice, money laundering, and tax code violations.

If an investigation reveals criminal activity, the Office of Investigations will refer the matter to the Department of Justice for possible prosecution or recovery of monetary damages and penalties. If administrative misconduct is found, the Office of Investigations will forward the report to the appropriate management officials for consideration of disciplinary or remedial action. The Office’s investigative reports are generally not public documents.

Further, the Office of Investigations manages FHFA-OIG’s Hotline, which is available to receive and process tips and complaints regarding fraud, waste, or abuse affecting FHFA’s programs and operations. The Hotline allows concerned parties to report their allegations to FHFA-OIG directly and confidentially. The Office of Investigations honors all applicable whistleblower protections. As part of its effort to raise awareness of fraud, the Office of Investigations actively promotes the Hotline through the FHFA-OIG website, posters, targeted e-mails to FHFA and GSE employees, and the Semiannual Reports.

Office of Risk Analysis

The Office of Risk Analysis uses data mining, quantitative data, and analysis of data and relevant information to identify and monitor emerging and ongoing areas of risk. The identification, analysis, and prioritization of risk areas will allow FHFA-OIG to utilize resources strategically and realign the Audit and Evaluation Plan, in real time, to address those risks.

The Office of Compliance and Special Projects

The Office of Compliance and Special Projects is staffed with lawyers and individuals from the Offices of Audits, Evaluations, and Investigations, and is responsible for conducting validation testing to determine whether the FHFA-OIG recommendations agreed to by FHFA, or the controls adopted by FHFA to respond to FHFA-OIG reports, were fully implemented by the Agency. These seasoned professionals jointly apply their expertise to test whether the Agency’s representations regarding remediation have been fulfilled.

Executive Office

The Executive Office provides leadership and programmatic direction for all FHFA-OIG offices and activities.

The Executive Office includes the Office of Counsel. The Office of Counsel serves as the chief legal advisor to the Inspector General and supports FHFA-OIG by providing independent legal advice, counseling, and opinions concerning FHFA-OIG’s programs and operations. The Office of Counsel reviews audit, investigation, and evaluation reports for legal sufficiency and compliance with FHFA-OIG’s policies and priorities. It also reviews drafts of FHFA regulations and policies and prepares comments as appropriate. Additionally, the Office of Counsel coordinates with the FHFA Office of General Counsel and manages FHFA-OIG’s responses to requests and appeals made under the Freedom of Information Act and the Privacy Act.

Office of Administration

The Office of Administration manages and oversees FHFA-OIG administration, including budget, human resources, financial management, and IT. For human resources, the Office of Administration develops policies to attract, develop, and retain exceptional people, with an emphasis on linking performance planning and evaluation to organizational and individual accomplishment of goals and objectives. The Office of Administration coordinates budget planning and execution and oversees all of FHFA-OIG’s procedural guidance for financial management and procurement integrity.

Office of Internal Controls and Facilities

The Office of Internal Controls and Facilities manages and oversees safety, facilities, and internal controls. The Office of Internal Controls and Facilities administratively supports the implementation of FHFA-OIG’s Internal Management Assessment Program, which requires the routine inspection of each FHFA-OIG office to ensure that it complies with applicable requirements.

FHFA-OIG is headquartered in Washington, DC, and is co-located with FHFA.


FY 2015 OIG budget