The Federal Housing Finance Agency Office of Inspector General said there’s a gap in the FHFA’s quality control review process in monitoring examination activities, which results in potentially false expectations that a problem has been resolved. The OIG said there are instances when the FHFA doesn’t perform a quality control review of examination conclusions. In other words, examiners don’t issue correspondence that notifies the GSE of the results of the ongoing monitoring activity. Based on the OIG’s review of documents and discussions with examination officials, the regulator determined that the reports of examination issued for the 2015 supervisory cycle contained conclusions derived from ongoing monitoring activities that had...