Finance Agency Rejects FHFA-OIGs Call for Formal Working Agreement with FHA to Hike Guaranty Fees
July 18, 2013
The Federal Housing Finance Agency should coordinate with the FHA to establish a formal working group to permit both agencies to raise guaranty fees and insurance premiums as a way to reduce the federal governments role in the mortgage-guaranty business, the FHFAs official watchdog has recommended. The FHFA firmly disagrees. A new report by the FHFAs Office of Inspector General this week noted potential benefits that the FHFA may achieve by establishing a more formalized working arrangement with the FHA and jointly assessing the key issues around their pricing initiatives. The Treasury Department made...