Fannie Mae And Freddie Mac Systematically Ignore Red Flags: OIG

Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) have had stronger recoveries than anyone expected under the conservatorship of the Federal Housing Finance Agency (FHFA), but now it seems that the two government sponsored agencies are ignoring the oversight procedures that the FHFA has put in place to prevent another bailout. Fannie Mae, Freddie Mac set warnings as automatic overrides In 2010 the FHFA directed the Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) to create a uniform collateral…