On September 27, 2011, the Office of the Inspector General for the FHFA ("OIG") released a report criticizing the FHFA's approval of Freddie Mac's $1.35 billion settlement of mortgage repurchase claims against Bank of America.  The OIG found that significant concerns about the reliability of Freddie's loan review processes should have alerted the FHFA to the risk that these deficiencies skewed its analysis of the risk of loss to Freddie and, therefore, its ability to fairly assess the settlement.  OIG Report.