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'Stategic' Defaulters May Face Heat

"The Agency should obtain information to better understand the Enterprises' deficiency management processes and assess whether further improvements are needed to ensure the Enterprises are efficiently and effectively managing their credit loss mitigation activities."

The FHFA-OIG, however, cautioned that its recommendations for enhancing the Agency's oversight of the Enterprises' deficiency management processes "should not be construed as encouragement to aggressively pursue borrowers who do not have the ability to pay their mortgages."

-- Written by Shanthi Bharatwaj in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
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