Fannie Sues KPMG for Approving Bad Numbers
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Fannie Mae yesterday sued its former auditor, KPMG, alleging malpractice by the big accounting firm when it approved years of financial statements that were riddled with errors.
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Fannie Mae, the federally chartered housing finance company, violated accounting requirements that are "clear" and "not overly complex," the chief accountant of the Securities and Exchange Commission told a House subcommittee yesterday.
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The Securities and Exchange Commission&#39;s top accountant told mortgage funding giant Fannie Mae last night that it should correct its past accounting
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Fannie Mae has been ordered to restate its earnings for the past four years after an investigation by the Securities and Exchange Commission into the mortgage finance company&#39;s accounting practices.
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Former Fannie Mae chairman Franklin D. Raines is trying to draw the White House into his defense against a shareholder lawsuit alleging that he and the government-sponsored mortgage funding company misled investors when Fannie Mae overstated earnings by billions of dollars.
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Fannie Mae, the biggest source of money for U.S. home mortgages, broke accounting rules for financial contracts designed to protect against swings in interests rates.
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Fannie Mae, accused by regulators of flouting accounting rules, said yesterday it could not meet a deadline for a quarterly financial report and may be required to record
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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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Former Fannie Mae chairman and chief executive Franklin D. Raines, accused of manipulating the housing finance company's earnings, is challenging regulators to make their case against him beginning Feb. 16 instead of waiting until the end of the year.
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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
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Fannie Mae , under fire from regulators, is facing a groundswell of lawsuits from class-action specialists for billions of dollars in stock losses stemming from the company's faulty accounting.
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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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Fannie Mae, the US biggest government-ruled mortgage lender, faces formal investigation conducted by the US Justice Department of possible accounting fraud.
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Freddie Mac, the government-chartered mortgage company that restated earnings by $5 billion, said yesterday that it might be the subject of a civil lawsuit by the Securities and Exchange Commission.
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A government review into the nation's No. 1 mortgage finance company charges it with inappropriate accounting practices, the company's board said today.
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Ohio Attorney General Jim Petro said on Friday he filed a securities fraud, class-action lawsuit against Fannie Mae (FNM.N: Quote, Profile, Research) and its executive officers, charging that the mortgage buyer manipulated its
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NEW YORK Fannie Mae, the biggest provider of money for the US mortgage industry, said Wednesday that it was planning to sell as much as $4 billion worth of preferred stock after its regulator said the lender had broken accounting rules and was