Audits and Evaluations

2021

Corporate Governance: Fannie Mae Senior Executive Officers and Ethics Officials Again Failed to Follow Requirements for Disclosure and Resolution of Conflicts of Interest, Prompting the Need for FHFA Direction (EVL-2021-001) -
Audit of FHFA’s Design of Procedures and Guidance to Prevent and Reduce Improper Payments (AUD-2021-003) -

2020

Audit of the Federal Housing Finance Agency’s Information Security Program (Fiscal Year 2020) (AUD-2021-001) -
Audit of the Federal Housing Finance Agency Office of the Inspector General’s Information Security Program (Fiscal Year 2020) (AUD-2021-002) -
Weaknesses in FHFA’s Monitoring of the Enterprises’ 97% LTV Mortgage Programs May Hinder FHFA’s Ability to Timely Identify, Analyze, and Respond to Risks Related to Achieving the Programs’ Objectives (AUD-2020-014) -
FHFA Failed to Follow its Cloud-Based Computing Requirements when it Did Not Validate the Implementation of Minimum Security Requirements for Cloud-Based Tools and Did Not Include Required IT Security Provisions in Some of its Cloud Service Contracts (AUD-2020-013) -
More than Eight Years After Issuing its Advisory Bulletin, FHFA Has Not Held the Enterprises to its Expectations on Charging off Delinquent Loans or Communicated New Expectations (EVL-2020-003) -
FHFA Completed All of its Planned Ongoing Monitoring Activities for Freddie Mac for 2019 (AUD-2020-012) -
FHFA Completed Most of its Planned Ongoing Monitoring Activities for Fannie Mae and CSS for 2019; However, FHFA Failed to Follow its Requirements When it Changed Examination Plans for Non-Risk-Based Reasons and Failed to Obtain Deputy Director Approval (AUD-2020-011) -
DBR’s Examinations during the 2017 through 2019 Examination Cycles Generally Complied with its Guidelines, but Some Exceptions to those Guidelines Were Not Documented and/or Approved, and DBR’s Quality Control Branch Failed to Identify these Shortcomings (AUD-2020-010) -
FHFA Examiners’ Lack of Assessment and Escalation of Shortcomings Identified by an Enterprise in its Servicer Fraud Risk Management Framework Limited the Agency’s Supervisory Oversight (EVL-2020-002) -
FHFA Cannot Assure that All Electronic Media Approved for Destruction in October 2018 Was Destroyed, and it Continues to Lack Adequate Controls over Electronic Media Targeted for Disposal (AUD-2020-009) -
FHFA Needs to Strengthen Controls Over its Records Management Program to Comply with OMB and NARA Requirements (AUD-2020-008) -
For Fiscal Year 2019, FHFA Did Not Always Follow its Policy for Employee Reimbursements and Stipends; FHFA’s Practice for Calculating Employee Travel Stipends Was Not Stated in its Policy Nor Consistently Followed (AUD-2020-007) -
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 (EVL-2020-001) -
FHFA’s Procurement Awards during the Period January 2017 to September 2019 Followed Most of its Acquisition Policies and Procedures but Some Required Internal Peer Reviews Were Not Performed (AUD-2020-006) -
FHFA's 2019 Disaster Recovery Exercise of its General Support System Was Conducted as Planned, But its Disaster Recovery Procedures Were Missing Certain Required Elements and Included Outdated Information (AUD-2020-005) -
Despite Prior Commitments, FHFA Has Not Implemented a Systematic Workforce Planning Process to Determine Whether Enough Qualified Examiners are Available to Assess the Safety and Soundness of Fannie Mae and Freddie Mac (AUD-2020-004) -
FHFA Complied with Applicable Improper Payment Requirements for Fiscal Year 2019 (AUD-2020-003) -

2019

Audit of the Federal Housing Finance Agency Office of the Inspector General’s Information Security Program (Fiscal Year 2019) (AUD-2020-002) -