FHFA'S SUPERVISION OF FREDDIE MAC'S CONTROLS OVER MORTGAGE SERVICING CONTRACTORS

The letter of intention to audit provides a general outline as to the function or purpose of audits conducted by the Office, indicating that the inspection will have a focus on areas and systems within the company where personal data is held and processed. If there are any areas or issues of particular concern in advance of the audit, these may also be highlighted in the letter. In some cases an indication will be given as to why the organisation has been selected for audit. In the event of the audit of a large organisation, particular areas may...