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Open Recommendations

Nonbank Mortgage Companies: Ginnie Mae and FHFA Could Enhance Financial Monitoring
GAO-26-107436
Feb 10, 2026
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4 Open Recommendations
Agency Affected Recommendation Status
Federal Housing Finance Agency The Director of FHFA should ensure that the Counterparty Risk and Policy Branch develops procedures for assessing the reliability of MBFRF data used for monitoring activities and for treating potentially unreliable data. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Government National Mortgage Association (Ginnie Mae) The President of Ginnie Mae should ensure that the Office of Enterprise Risk develops guidance requiring analysts to consistently review key components of warehouse lending risk, including the committed funding amount, as part of the manual credit review process. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Housing Finance Agency The Director of FHFA should ensure that the Counterparty Risk and Policy Branch assesses the feasibility and utility of incorporating all key components of warehouse lending risk in its risk scoring process. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Government National Mortgage Association (Ginnie Mae) The President of Ginnie Mae should ensure that the Office of Enterprise Risk incorporates consideration of alternative economic scenarios into Ginnie Mae's stress testing framework. (Recommendation 4)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Bank Capital Reforms: The Office of the Comptroller of the Currency Should Clarify Policy for Retaining Documents
GAO-26-108015
Jan 29, 2026
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1 Open Recommendations
Agency Affected Recommendation Status
Office of the Comptroller of the Currency The Comptroller of the Currency should revise the agency's current records retention policy or issue supplemental guidance to clarify which documents created for, or received from, the Basel Committee should be treated as records. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Artificial Intelligence: Use and Oversight in Financial Services
GAO-25-107197
May 19, 2025
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1 Open Recommendations
Agency Affected Recommendation Status
National Credit Union Administration The Chair of NCUA should update the agency's model risk management guidance to encompass a broader variety of models used by credit unions and provide additional details on key aspects of effective model risk management. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Nonbank Mortgage Companies: Greater Ginnie Mae Involvement in Interagency Exercises Could Enhance Crisis Planning
GAO-25-107862
Jan 31, 2025
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1 Open Recommendations
Agency Affected Recommendation Status
Government National Mortgage Association (Ginnie Mae) The President of Ginnie Mae should develop processes for participating in interagency exercises—taking into consideration the potential risks and benefits of sharing nonpublic information in a crisis—and for incorporating lessons learned from the exercises into Ginnie Mae's issuer default strategy. (Recommendation 1)
Open
In December 2025, Ginnie Mae said it had taken steps to strengthen its response to issuer defaults, including formalizing a crisis response plan and incorporating some aspects of interagency coordination into its internal 2025 default simulation exercise. However, Ginnie Mae had not developed processes specifically for participating in interagency exercises, which is the focus of our recommendation.
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