Fannie Mae Agrees to Sweeping Changes
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Fannie Mae, the nation's largest mortgage buyer, agreed to major changes in its accounting and management practices.
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Fannie Mae&#39;s board has reached a decision on management changes in the wake of the accounting turmoil at the mortgage giant and will announce the changes later Tuesday, The Wall Street Journal says on its Web site, quoting an unnamed source.
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Mortgage companies Fannie Mae and Freddie Mac last year met the government-set goals for making home ownership affordable, but only because three unusual multibillion-dollar deals were counted toward the targets, officials said Thursday.
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Score one for the lion tamer. The federal regulator that oversees home-mortgage giant Fannie Mae finally persuaded that government-sponsored enterprise to agree to clean up its questionable accounting practices.
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Fannie Mae and Freddie Mac will raise by 7.8 percent the limit on the size of single-family-home mortgages they will purchase, increasing the pool of home buyers who will qualify for lower-cost financing.
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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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President George W. Bush on Thursday signed into law a measure that will waive taxes on many homeowners who must restructure their mortgages as they face foreclosure.
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Fannie Mae yesterday agreed to pay the government $7.5 million to settle a case in which the Justice Department alleged that the giant housing-finance company knowingly accepted proceeds of a mortgage scam.
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International Business Machines Corp. said yesterday it had agreed to settle most of the issues in a suit over changes in its pension plans on terms that allow the company to continue
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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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The US Federal Reserve is set to agree a range of measures giving mortgage holders more protection.
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The board of Fannie Mae has been discussing a possible executive shake-up as the embattled mortgage giant responds to regulators&#39; allegations of accounting violations and faces a likely restatement of $9 billion or more in earnings.
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Fannie Mae FNM.N, the embattled U.S.  home funding company, on Wednesday said it agreed to sell $5  billion worth of non-cumulative preferred stock in two  placements to certain institutional buyers in an effort to meet  higher capitalization standards.
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Embattled mortgage finance company Fannie Mae  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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Fannie Mae wanted to look very safe. But to do that it cut accounting corners, two regulatory agencies have now concluded. And that has severely damaged the image of the mortgage lender and its management.
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Legislation to tighten federal oversight of the two biggest buyers of home mortgages, Fannie Mae and Freddie Mac, cleared the House yesterday.
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US mortgage finance company Fannie Mae on Friday said it would make public information about some securities it issues to comply with new Securities and Exchange Information rules.