Members of the Senate Banking Committee voiced significant concerns Tuesday in how the agency in charge of overseeing Fannie Mae and Freddie Mac has been lagging behind in critical areas identified by a government watchdog.

Testifying before the panel, Steve Linick, the Federal Housing Finance Agency's (FHFA) Inspector General, detailed a number of deficiencies identified in the FHFA's operations, showing how the agency overly relied on decisions made by Fannie and Freddie.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.