FHFA Moves to Codify GSE Suspended Counterparty Program
October 25, 2013
The Federal Housing Finance Agency moved this week to formalize an anti-fraud initiative it rolled out some 16 months ago that requires Fannie Mae, Freddie Mac and the Federal Home Loan Banks to notify the agency forthwith of fraudulent activity by a GSE-associated individual or company. The interim final rule published in the Oct. 23 Federal Register generally codifies the procedures under the FHFAs existing Suspended Counterparty Program, established in June 2012, with a request for public comment.