Christopher Milla

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On Monday, April 30, 2012, the Federal Housing Finance Agency (FHFA) postponed a decision on whether it would allow Fannie Mae and Freddie Mac to use principal reductions as part of their toolkit for helping homeowners avoid foreclosure. Our very own Colleen McDonald offered Law360 her insight as to why increased costs are not the only problem that the FHFA will need to work out. For more, please read the entire article.…
On Wednesday, March 7, 2012, the Office of the Inspector General (OIG) of the Federal Housing Finance Agency (FHFA) completed a performance audit (“Audit”) to assess whether the FHFA has an effective supervisory control structure in place to adequately identify and mitigate risks involving mortgage servicing contractors. The FHFA was created by the Housing and Economic Recovery Act of 2008 in order to assess the safety and soundness of Fannie Mae, Freddie Mac, and the…