The official watchdog of Fannie Mae's regulator has flagged "several opportunities for improvement" in the Federal Housing Finance Agency's oversight of the nearly $12 billion buyback settlement between Bank of America and the GSE announced earlier in the year. In its review of the January BofA/Fannie settlement, FHFA's Office of Inspector General credits the agency for its adherence to its repurchase settlement guidance, an IG-recommended policy that the regulator issued in June 2012. However, FHFA's repurchase guidance and consequently its oversight of the buyback settlement fell short regarding the resolution of compensatory fees and the transfer of mortgage servicing rights, the OIG report found.