Fannie Mae picks local man
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(December 23, 2004) - After quietly building a successful career in banking and real estate, Rochester executive Stephen B. Ashley finds himself in the middle of one of the financial world&#39;s highest-profile trouble spots.
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Armando Falcon Jr., director of the agency that regulates mortgage funding giants Fannie Mae and Freddie Mac, appears likely to stay on the job past the expiration of his five-year term next month, though he submitted his resignation more than a year and half ago under pressure from the White House.
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Posted December 22, 2004 - The longtime chief of the nationâs largest mortgage lender stepped down from Fannie Mae late Tuesday in the midst of an investigation into accounting errors that might force a multi-billion-dollar earnings adjustment.
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WASHINGTON, DC-Fannie Mae officials have revealed in a report filed to the Securities and Exchange Commission on December 27 that recently retired chairman and CEO Franklin D. Raines is owed an annual pension of $1.3 million for as long as he lives, as
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The chairman of the Senate Banking Committee is working on a plan to set up a company to buy distressed home loans at currently discounted values and use the money to help fund new mortgages.
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Future residents of the Cottage Gate development in Middletown, New Jersey, may be surprised to learn their granite countertops and two-car garages were paid for by a hedge fund.
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Franklin Raines, who was forced out as Fannie Mae&#39;s chief executive after five years, is slated to receive a monthly pension of more than $114,000 for life, according to documents the mortgage lending giant filed Monday with the
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District-based Fannie Mae, whose accounting methods are facing the same scrutiny that shook up fellow mortgage lender Freddie Mac last year, says it has formed a committee to work with regulators and named former Sen.
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Fannie Mae has long been thought untouchable because its management and board are loaded with luminaries from the governmental, lobbying and political world.
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Fannie Mae Chief Executive Franklin Raines' struggle for his job and reputation after regulators found extensive accounting problems at his company is an unexpected twist in a career that had seemed likely to vault him into a prominent role in national politics.
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The 211-page report that was released on Wednesday by the Fannie Mae regulatory agency has put Roger L. Barnes in the spotlight.
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Fannie Mae Chief Executive Franklin  Raines' struggle for his job and reputation after regulators  found extensive accounting problems at his company is an  unexpected twist in a career that had seemed likely to vault  him into a prominent role in national politics.
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By Philip Marcello; Journal Staff Writer  This story of statewide business interest previously appeared in a local news section.
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SAN FRANCISCO (CBS.MW) -- Fannie Mae&#39;s outgoing Chairman and Chief Executive Franklin Raines is set to retire with a seven-figure pension and millions in stock options, the mortgage giant said in a regulatory filing Monday.
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He fits. That, as much as anything, is why Bill Cowher has lasted. He is the right man in the right town, a hard-nosed guy for a hard-nosed place.
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The decision yesterday by Fannie Mae&#39;s board to get rid of its chief executive and chief financial officer illustrates the company&#39;s determination to try and restore its credibility
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WASHINGTON Under heavy pressure from regulators, Fannie Mae, the US mortgage finance giant, has forced out its chairman and chief executive, Franklin Raines, days after the company was found to have violated accounting rules.