Fannie Regulator's Budget Loses Key Backer, for Now
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A senior House Democrat said yesterday that he will not support a budget increase for the federal regulator of Fannie Mae until questions raised in a confidential report have been addressed.
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The board of Fannie Mae, the largest source of money for the US mortgage market, met Sunday without making an announcement on the status of Chief Executive Officer Franklin Raines and Chief Financial Officer J. Timothy Howard.
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One of the nationâs largest home builders posted a loss for its most recent quarter as it wrote down the value of its inventory.
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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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As investigators dig into Fannie Mae's financials, they will find detailed statements defending the company's accounting practices by Franklin D. Raines, Fannie's chairman and chief executive, that are directly contradicted by the highly critical report issued last week by the company's chief regulator.
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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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A decision by the state&#39;s tightfisted finance director to step down has fueled speculation inside the Capitol about a possible shift on spending issues by Gov.
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Washington (Sept. 27, 2004) - The regulator charged with overseeing mortgage concern Fannie Mae appears to be considering a shake-up of its top management to clean up the beleaguered firm.
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WASHINGTON Sept. 24, 2004 - Shares of Fannie Mae fell again on Friday, capping a three-day slide of more than 13 percent, as investor concerns widened after a government regulator accused top executives
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Fannie Mae (FNM.N: Quote, Profile, Research) , the mortgage financier whose chief executive and chief financial officer recently stepped down under fire, on Wednesday said it may privately sell up to $4 billion of preferred
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Breaking his public silence since a federal regulator issued a scathing report last month, Franklin D. Raines, the chairman and chief executive of Fannie Mae, is expected
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Fannie Mae&#39;s regulators would take steps to oust top executives, including chairman and chief executive Franklin D. Raines and Chief Financial Officer J. Timothy Howard
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Fannie Mae&#39;s chief executive and another top official are to appear before Congress to explain an accounting lapse at the mortgage giant amid regulators&#39; allegations of earnings manipulation and management misdeeds.
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Fannie Mae Chief Executive Franklin Raines will tell a US House panel the largest government- sponsored mortgage finance company ``strongly&#39;&#39; disagrees with a report by its regulator
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Fannie Mae, the mortgage finance giant, forced out its chairman and chief executive, days after the company was found to have violated accounting rules.
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Description: Fannie Mae&#39;s Franklin Raines retires as CEO, and Timothy Howard resigns as CFO of the mortgage giant. This comes a few weeks after the Securities and Exchange Commission told Fannie Mae to restate
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The vaunted political and financial skills of Fannie Mae Chief Executive Franklin Raines may not be enough to save him professionally after a scathing regulatory report last week detailed pervasive accounting lapses at the mortgage finance company.