FHFA · other · Published 2010-01-27 · Effective 2010-02-26 · 75 FR 4255
Document
Document number
2010-1641
Federal Register citation
75 FR 4255
CFR reference
12 CFR 1233
Type
Rule
Action
Final regulation.
Category
other
Agency
US Federal Housing Finance Agency
Publication date
2010-01-27
Effective date
2010-02-26
Abstract
The Federal Housing Finance Agency (FHFA) is issuing a final regulation that requires the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and each Federal Home Loan Bank (collectively, regulated entities) to submit a timely report to FHFA upon discovery that it has purchased or sold a fraudulent loan or financial instrument, or suspects a possible fraud relating to the purchase or sale of any loan or financial instrument. The final regulation also requires the regulated entities to establish and maintain internal controls, policies, procedures, and operational training programs to ensure that any fraudulent loan or financial instrument or possible fraudulent loan or financial instrument is discovered and reported.