Fannie Mae ex-officials&#39; severance scrutinized
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Because Fannie Mae&#39;s board of directors allowed CEO Franklin Raines to &quot;retire&quot; and chief financial officer Timothy Howard to resign late Wednesday, the Office of Federal Housing
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A federal report accusing Fannie Mae, the giant mortgage company, of improper accounting has led to an informal investigation by the Securities and Exchange Commission, the company&#39;s board announced Wednesday.
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WASHINGTON - Regulators have found serious accounting problems at mortgage giant Fannie Mae, prompting an inquiry by the Securities and Exchange Commission and calling into question its financial soundness. The company's shares dropped nearly 7 percent Wednesday...
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As expected, the growing accounting scandal swirling around Fannie Mae claimed the careers of two of its top executives. CEO Franklin Raines and CFO Timothy Howard were forced out Tuesday night by the mortgage finance corporationâs Board of Directors.
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Accounting problems at Fannie Mae, the giant mortgage company, have prompted an investigation by the Securities and Exchange Commission.
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WASHINGTON -- Federal prosecutors have opened an investigation into possible wrongdoing at mortgage giant Fannie Mae , just days after regulators accused the company of shoddy accounting practices, according to sources familiar with the probe.
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Fannie Mae's board of directors met Monday to hear details about accounting problems its regulators have uncovered during a long-running review, according to a source familiar with the matter.
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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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For accountant Roger Barnes, the final straw came when he was deliberately excluded last fall from Fannie Mae&#39;s preparation for a special review by federal regulators.
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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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A long running regulatory examination of Fannie Mae has found accounting and other problems at the giant government-chartered mortgage company that raise doubts about &quot;the quality of
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WASHINGTON  - US mortgage finance giant Fannie Mae announced the retirement of its chief executive officer Franklin Raines and the resignation of its chief financial officer Timothy Howard, in the wake of accounting errors that will force a massive
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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.
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Regulators have discovered serious accounting problems at mortgage giant Fannie Mae, prompting an inquiry by the Securities and Exchange Commission and calling into question its
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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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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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The federal regulator of mortgage giant Fannie Mae has extracted a laundry list of reforms from the troubled mortgage lender. Fannie&#39;s outside directors submitted to the regulatory