The US Federal Housing Finance Agency (FHFA) has refused to provide documents to its internal oversight body (OIG), blocking inspections of mortgage corporations Fannie Mae and Freddie Mac, Reuters reports. The OIG's report to Congress called the agency's actions "unprecedented." The conflict escalated after FHFA cut the agency's budget a month ago, prompting about 80 percent of its roughly 80 employees to receive layoff notices.

The US Federal Housing Finance Agency (FHFA) has refused to provide documents to its internal oversight body (OIG), blocking inspections of mortgage corporations Fannie Mae and Freddie Mac, Reuters reports. The OIG's report to Congress called the agency's actions "unprecedented." The conflict escalated after FHFA cut the agency's budget a month ago, prompting about 80 percent of its roughly 80 employees to receive layoff notices.