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OFHEO Issues Policy Guidance on Fannie Mae and Freddie Mac Mortgage Fraud Programs
Washington, DC – The Office of Federal Housing Enterprise Oversight (OFHEO) has issued a revised Policy Guidance on the Examination of Mortgage Fraud Programs of Fannie Mae and Freddie Mac. The guidance details the standards for overseeing and evaluating policies and programs the Enterprises have...
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Federal Housing Finance Board Approves an Amendment to the Capital Structure Plan of the Federal Home Loan Bank of New York
The Board of Directors of the Federal Housing Finance Board (Finance Board) today approved a request by the Federal Home Loan Bank of New York (Bank) to amend its previously approved capital structure plan (Plan). The proposed amendments deal principally with how the Bank may recalculate the...
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OFHEO Releases 2007 Performance and Accountability Report
Washington, DC – OFHEO Director James B. Lockhart today released the agency’s 2007 Performance and Accountability Report (PAR). The report details OFHEO’s operations and accomplishments as the safety and soundness regulator for Fannie Mae and Freddie Mac in the fiscal year ended September 30, 2007...
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Consent Order Issued in Action Against Former Freddie Mac Chairman and CEO Leland C. Brendsel
Washington, DC – OFHEO Director James B. Lockhart today announced issuance of a Consent Order against former Freddie Mac Board Chairman and Chief Executive Officer (CEO) Leland C. Brendsel that settles OFHEO’s administrative enforcement action against him. “OFHEO’s responsibility to address the safe...
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Federal Housing Finance Board and Federal Home Loan Bank of Chicago Enter into Consent Order to Cease and Desist
The Board of Directors of the Federal Housing Finance Board (Finance Board) and the Federal Home Loan Bank of Chicago (Chicago Bank) today entered into a Consent Order to Cease and Desist (Order). The Order imposes restrictions on the Bank’s repurchases and redemptions of its capital stock and its...
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Consent Order Issued In Action Against Former Freddie Mac Chief Financial Officer
Washington, DC – OFHEO Director James B. Lockhart today announced issuance of a Consent Order against former Freddie Mac Executive Vice President and Chief Financial Officer (CFO) Vaughn A. Clarke. Mr. Clarke consented to the Order in settlement of an OFHEO administrative notice of charges filed...
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OFHEO Releases “Mortgage Markets and the Enterprises in 2006”
WASHINGTON, DC — James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today released “Mortgage Markets and the Enterprises in 2006,” an annual research paper that reviews developments in the primary and secondary mortgage markets and the financial performance of...
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Federal Housing Finance Board Approves the Allocation of Elective Directorships
Each year, the Finance Board allocates the elective directorships at each Bank among the states in that Bank’s district. The directorships are allocated initially on the amount of Bank stock owned by the members in each state. However, under a "grandfather provision," which requires each state to...
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FHB Approves Waivers Dealing with the Combines Financial reports of the Federal Home Loan Banks
The Board of Directors of the Federal Housing Finance Board (Finance Board) today passed a resolution waiving some requirements dealing with the Federal Home Loan Banks’ combined financial reports for prior periods. By regulation, the Federal Home Loan Banks’ Office of Finance (OF) must prepare and...
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OFHEO Releases Annual Report to Congress
WASHINGTON, DC — James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today released OFHEO’s 2007 Report to Congress, detailing the agency’s annual examination conclusions and regulatory oversight of government-sponsored enterprises (GSEs), Fannie Mae and...