Letter to the Honorable Laura Wertheimer, Inspector General of Federal Housing Finance Agency - Conflict of Interest with Timothy Mayopoulos

Letter

Dear Ms. Wertheimer:

On March 23, 2017, you provided the Committee with a Management Alert and an accompanying report pertaining to an administrative investigation into an alleged conflict of interest of Timothy Mayopoulos, the Chief Executive Officer (CEO) of the Federal National Mortgage Association (Fannie Mae). 1

The investigation concerns the timeliness and completeness of Mayopoulos disclosing his "significant and ongoing" relationship with the Chief Legal Officer and Corporate Secretary (CLO) of Fifth Third Bancorp (Fifth Third), a mortgage originator and servicer with which Fannie Mae conducts billions of dollars in business.2 This failure to disclose on the part of the CEO raises questions for the Committee because it jeopardizes the ethical and operational integrity of Fannie Mae, a government-sponsored entity that receives substantial government
backing.

We request copies of supporting evidence and documentation referenced in your report numbered OIG-2017-003 and titled, Administrative Investigation into Anonymous Hotline Complaints Concerning Timeliness and Completeness of Disclosures Regarding a Potential Conflict of Interest by a Senior Executive Officer of an Enterprise.

The Committee on Oversight and Government Reform is the principal oversight committee of the House of Representatives and may at "any time" investigate "any matter" as set forth in House Rule X.

Thank you for your prompt attention to this matter, and we look forward to a response as soon as possible, but no later than April 6, 2017. Please contact Sarah Vance of the Majority staff at (202) 225-5074 or Lucinda Lessley of the Minority staff at (202) 225-5051 with any questions about this request.

Sincerely,