Last week’s sudden suspension of the FHA’s third-largest lender – Taylor, Bean & Whitaker – underscores the government’s rising challenge in policing a rapidly growing program in a still highly volatile market environment. TBW didn’t submit a required annual financial report and “misrepresented that there were no unresolved issues with its independent auditor,” HUD said. The auditor...
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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