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Recommendation Details
Text of Recommendation
FHFA should update FHFA’s conservatorship decision policy and procedures to align with current practice and: a. Provide clarity on approval authorities for issuing conservatorship directives and CSS decisions. b. Provide guidance on performing and documenting monitoring and surveillance activities. c. Establish procedures for issuing guidance decisions. d. Establish procedures describing FHFA’s practice to de-escalate LOI decision requests.
Recommendation Number
AUD-2023-003-2
Recommendation Status
Open
Significant Recommendation
No
Recommendation Questioned Costs
$0
Recommendation Funds for Better Use
$0
Associated Report Details
Submitting OIG
Federal Housing Finance Agency OIG
Linked Report
FHFA Followed Its Guidance When Making Conservatorship Decisions But Needs to Improve Retention of Decision Documentation and Update the Conservatorship Decision Policy and Procedures