Fannie Mae says &#39;Uncle&#39; to regulator
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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
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Franklin Raines, Fannie Mae's former  chief executive, who retired last week after regulators exposed  accounting errors expected to force a massive earnings  restatement, stands to get an annual pension of $1.37 million,  the No. 1 U.S. mortgage finance company said on Monday in a  regulatory filing.
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Fannie Mae&#39;s regulators would move to oust top executives, including Chief Executive Franklin D. Raines and CFO J. Timothy Howard, if the company&#39;s board doesn&#39;t
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According to Roger Barnes, Fannie Mae, the giant mortgage finance company where he worked as an accountant for more than a decade, used "threats, intimidation and reprisal" against him and others who raised concerns about the company's accounting.
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Roger Barnes, who left Fannie Mae last November, said today that he had taken his concerns directly to Franklin Raines, the company's chief executive.
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Fannie Mae's federal regulator has used leaks to the media about the government-chartered company for its own gain, according to a report by the inspector general.
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US regulators are set to investigate possible violations of the Sarbanes-Oxley legislation on accounting and corporate governance by Fannie Mae&#39;s former senior management.
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WASHINGTON Sept. 30, 2004 - Top executives of Fannie Mae are being called before Congress to explain an accounting lapse as lawmakers delve into operations of the mortgage giant that is already under investigation by federal regulators.
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Fannie Mae's regulator told Congress  on Wednesday his office was considering seeking management  changes at the mortgage finance company after finding pervasive  accounting irregularities.
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The chairman of Fannie Mae, the government-backed mortgage lender, on Wednesday described accusations of accounting misdeeds at his company as without merit.
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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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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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Under pressure from regulators, Fannie Mae&#39;s (FNM:NYSE - news - research) board ousted its top two executives in the midst of a deepening accounting scandal.
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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 four years
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Embattled U.S. mortgage finance  giant Fannie Mae on Tuesday said it had discussed the  possibility of an earnings restatement with regulators,  reversing a top executive's comment.
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A former Fannie Mae (FNM.N: Quote, Profile, Research) employee who gave US regulators information about alleged accounting irregularities will not testify as planned before a congressional hearing next week, the committee
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Fannie Mae investors should be entitled to about $10 billion in compensation for losses stemming from accounting manipulation at the mortgage finance company, Ohio Attorney General Marc Dann said yesterday .