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Fannie Mae and Freddie Mac inspectors caught doing shoddy work, watchdog finds

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Inspections on houses headed into foreclosure -- inspections meant to save the Federal Housing Finance Agency money -- may be wasting money instead, the agency's inspector general has found. Fannie Mae and Freddie Mac -- which are regulated by the FHFA -- spent $91.2 million from 2011 to 2012 on pre-foreclosure property inspections, despite the lack of any assurance that the inspections were up...

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