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Examples
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"This is not a job for a second-rate analytical mind," says Allan Mendelowitz, a former chairman of the Federal Housing Finance Board who spent 20 years at the General Accounting Office and helped develop the legislative strategy turning the idea into law.
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In September, 2008, as part of the full federal takeover of Fannie Mae and Freddie Mac, OFHEO officially merged with the Federal Housing Finance Board to form a whole new independent federal agency, the Federal Housing Finance Agency (FHFA).
Andrew Cuomo and the Incredible Industry-Wide Mortgage Fraud Investigation 2009
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"It's very hard to get in front of a train loaded with highly profitable activities and stop it," says Ronald Rosenfeld, chairman of the Federal Housing Finance Board, a government agency that regulates home loan banks.
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Holding: The Federal Housing Finance Board Inspector General did not by statute automatically acquire authority to act as IG for the Federal Housing Finance Agency at the time of the enactment of the Federal Housing Finance Regulatory Reform Act of 2008; and accordingly, he cannot appoint employees to the Office of Inspector General for theFHFA.
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He said he wrote letters to federal agencies in June, and then made them public, in order to increase pressure on the Office of Thrift Supervision and the Federal Housing Finance Board to conduct more aggressive oversight of IndyMac.
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He's a board member of the Federal Housing Finance Board.
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Based on the latest Federal Housing Finance Board data, likely beneficiaries will be borrowers in much of California, including the San Francisco, San Jose, Los Angeles and San Diego areas.
Will New Rules 2008
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Their regulator, the Federal Housing Finance Board, will vote soon on whether that should be increased temporarily to six times, people familiar with the matter said.
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Treasury officials also privately encouraged the Federal Housing Finance Board to allow the nation's 12 Federal Home Loan Banks to buy as much as $160 billion in mortgage-backed securities, creating even more liquidity for markets.
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The home-loan banks are regulated by a federal agency, the Federal Housing Finance Board, and required to fund housing for low-income people.
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