Fannie&#39;s Raines to Receive $1.37 Mln Annual Payments
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Fannie Mae, the largest source of money for the mortgage market, said former Chief Executive Officer Franklin Raines will receive benefits including an annual payment of $1.37 million after his ouster last week.
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Mortgage lender Countrywide Financial  Corp  said on Monday that Chief Executive Angelo Mozilo  would relinquish his rights to receive around $37.5 million in  severance and other payments related to the company's sale to  Bank of America Corp .
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Fannie Mae would have to maintain 30 percent more capital than current rules demand it hold on its balance sheet, the Office of Federal Housing Enterprise Oversight, said in a statement.
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Embattled mortgage finance company  Fannie Mae FNM.N agreed to keep billions of dollars more cash  on hand while it corrects accounting problems, its government  regulator said on Monday.
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Chairman and CEO Raines and CFO Howard depart Fannie Mae, with interim successors named. We view this as a positive for Fannie Mae, and see an improved relationship with regulator Office of Federal Housing
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The staff of the Securities and Exchange Commission has ordered Fannie Mae, the nation&#39;s largest buyer of mortgages, to restate its earnings over the last four years after
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Fannie Mae (FNM.N: Quote, Profile, Research) on Tuesday said that from next year it will raise the limit on mortgages it can guarantee and purchase to $359,650 from $333,700 now.
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Fannie Mae chief executive Franklin D. Raines invited reporters to his Wisconsin Avenue headquarters a year ago to complain good-naturedly that recent disclosures of accounting manipulations at smaller rival Freddie Mac had unjustly hurt his company.
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The forced departure of Franklin D. Raines as chief executive of Fannie Mae hardly ends the turmoil at the nation&#39;s second largest financial institution.
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The chairman and chief executive of credit card issuer Capital One Financial , Richard D. Fairbank, was the most highly paid executive at a Washington area public company last year with total compensation of $37.4 million.
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Fannie Mae chief executive Daniel H. Mudd received $12.2 million in compensation for 2007, down 15 percent from $14.4 million in 2006, the company said yesterday.
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The forced departure this week of Franklin Raines as chief executive of Fannie Mae wonât end the turmoil at the nationâs second largest financial institution.
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WASHINGTON, DC-Franklin Raines has retired from the position of chairman and CEO at Fannie Mae and vice chairman and CFO J. Timothy Howard resigned from the lender.
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SAN FRANCISCO (CBS.MW) -- Fannie Mae&#39;s directors are scheduled to meet Sunday to discuss the future of Chief Executive Franklin Raines and Chief Financial Officer J. Timothy Howard, according to published reports.
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NEW YORK, December 16  - According to a report in the Washington Post today, the Securities and Exchange Commission (SEC) has advised Fannie Mae (FNM.
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September 29, 2004 - Fannie Mae, the nation&#39;s largest mortgage buyer, has signed an agreement with its regulator to fix accounting problems, raise billions of dollars in capital, and scrutinize management policies and internal controls
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It&#39;s payback time. The former chief executive of Conseco (nyse: CNO - news - people ) and his family trusts must pay $62.7 million plus interest to a unit of the insurance company, which may also foreclose on his mansion, a judge ruled.