DER Oversaw Fannie Mae Multifamily Lenders Effectively, But Should Improve Documentation of Sampling Approach

FHFA OIG completed an audit evaluating DER's oversight of Fannie Mae's multifamily lenders and loan monitoring. The audit concluded that DER effectively performed its oversight responsibilities during the review period. However, auditors identified that DER should improve its documentation practices, specifically regarding the sampling methodology used in oversight activities.

Affected parties including Fannie Mae, multifamily lenders, and banking supervisors should note that this audit report contains recommendations for improving regulatory documentation practices. While no immediate compliance obligations are imposed, entities subject to FHFA oversight should expect continued scrutiny of documentation quality in oversight sampling approaches.