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"In a wide-ranging report released Thursday, the Federal Housing Finance Agency Office of Inspector General seemingly questioned the motives of Fannie Mae surrounding the construction of its new headquarters in Washington, D.C. The project, which is expected to cost somewhere in the neighborhood of $700 million, would see Fannie Mae consolidate several office locations in the D.C. area into one main location. The OIG’s report cites several issues related to the FHFA’s oversight of the project (for more on the OIG report, click here), but one . . .", www.housingwire.com
"The Federal Housing Finance Agency has been lax in its duties as the overseer of Fannie Mae, and needs to do far more to address the dramatically rising cost of Fannie Mae’s new Washington, D.C. headquarters, the FHFA’s watchdog said in a new report. According to a new report from the Federal Housing Finance Agency Office of Inspector General, the projected cost of Fannie Mae’s new Washington headquarters, which would consolidate several office locations in the D.C. area into one main location, has risen 53.35% . . .", www.housingwire.com
"Costs for finishing Fannie Mae s new headquarters have increased $36 million without the knowledge of the Federal Housing Finance Agency employee responsible for monitoring the project, the agency s inspector general claims.", www.nationalmortgagenews.com
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