Fannie Mae to boost reserves, rework transactions to fix ...
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Under pressure from federal regulators, mortgage giant Fannie Mae has agreed to boost its reserve cushion against risk by several billion dollars.
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The lender said it would offer refinancing or modifications in loans whose interest rates are set to adjust by the end of 2008.
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Embattled mortgage finance company  Fannie Mae FNM.N agreed to keep billions of dollars more in  cash on hand while it corrects accounting problems, its  government regulator said on Monday.
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WASHINGTON -- Spurred by the crisis in the home mortgage industry, Congress is readying a slew of proposals aimed at changing some lending practices and helping financially distressed homeowners hang onto their homes.
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WASHINGTON Sept. 30, 2004 - Mortgage giant Fannie Mae, under investigation by regulators and ordered to revamp its accounting, may have to restate its past earnings, a federal agency said Thursday.
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WASHINGTON - Shifting course, Treasury Secretary Henry Paulson planned to tell Congress that the Bush administration would consider allowing the big mortgage companies Fannie Mae and Freddie Mac to temporarily buy, bundle, and sell as securities loans exceeding $417,000.
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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.
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Fannie Mae&#39;s regulator told Congress on Wednesday his office was considering management changes at the mortgage finance company after finding pervasive accounting irregularities.
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On Monday, Fannie Mae, the US largest government-ruled mortgage organisation, agreed to meet regulatorâs demand and restate its results as well as modify its accounting practices and lift capital reserve to 30% above the required minimum.
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US mortgage company Fannie Mae should restate its earnings, a move that is likely to put a billion-dollar dent in its accounts, watchdogs say
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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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The central bank ordered banks in the country to increase reserves for the first time in 17 years to rein in household debt and help curb a surge in property prices. The Bank of Korea raised the required reserve ratio on demand deposits to 7 percent from 5 percent, it said Thursday in a statement. The move was the latest effort by policy makers to damp rising household debt and surging property prices, which last month rose at the fastest pace in three years, threatening economic expansion. The government said last week that it planned to build more apartments and tighten lending restrictions for home buyers.
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Fannie Mae, the biggest buyer of US mortgages, will correct its accounting and boost capital to a level 30 percent above the required minimum after its federal regulator found errors
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US mortgage company Fannie Mae should restate its earnings, a move that is likely to put a billion-dollar dent in its accounts, watchdogs have said.
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Confidence in Fannie Mae debt rose after a management shake-up on Tuesday triggered by accounting errors and an enormous earnings restatement mandated by regulators, investors and analysts said on Wednesday.
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US home buyers may see a slight rise in mortgage rates if housing finance company Fannie Mae , which is mired in an accounting scandal, slows purchases of bonds backed by home loans in response to new rules imposed by regulators.
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Federal regulators, who are negotiating an agreement with the Fannie Mae board, have raised the possibility of removing the mortgage giant&#39;s management as the company acts to correct serious accounting problems detailed in a new report.