Cleanup, Operational Issues Kept GSEs from Adapting To Changing Mortgage Market, OFHEO Reports
June 23, 2006
Fannie Mae and Freddie Mac have been too consumed with cleaning up their enormous accounting and managerial imbroglios – and too hindered by outdated legacy systems and key staffing shortfalls – to fully respond to a changing marketplace that has grown increasingly fond of ARMs and non-traditional loans, according to the latest findings of one of their regulators...