SEC: Fannie Fails Accounting Compliance
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The U.S. Securities and Exchange Commission said on Wednesday the accounting practices of housing finance group Fannie Mae  from 2001 to mid-2004 "did not comply in material respects" with certain accounting standards for derivatives, hedging and other matters.
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The SEC ha ruled that Fannie Mae is guilty of violating the accounting standards and needs to restate its earnings for the past four years.
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WASHINGTON  - US mortgage finance giant Fannie Mae announced the retirement of its chief executive officer Franklin Raines and the resignation of its chief financial officer Timothy Howard, in the wake of accounting errors that will force a massive
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Fannie Mae  shares fell as much as 3.5 percent on Friday, bringing losses for the week to about 16 percent, as investors grew wary of potential widespread accounting problems at the No. 1 U.S. housing finance company.
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Two regulatory agencies have concluded that Fannie Mae cut corners when it came to its accounting, and that has severely damaged its image.
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Whether mortgage finance giant  Fannie Mae FNM.N will have to restate its earnings as a  result of accounting problems cited by regulators will be up to  the Securities and Exchange Commission to consider, a company  executive said on Tuesday.
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Home mortgage lender Fannie Mae on Wednesday said the Office of Federal Housing Enterprise Oversight uncovered accounting inaccuracies that raise doubts about the company&#39;s previous financial reports.
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Fannie Mae erased $6.3 billion in profit in a long-awaited restatement Wednesday capping the accounting scandal that stunned financial markets and brought the ouster of top executives and a record fine against the government-sponsored mortgage...
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Sep-27-2004 - Days after Fannie Mae&#39;s federal regulator released a highly critical report on the mortgage giant&#39;s accounting practices, observers say top management may not survive the fallout.
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A U.S. government review into the nation's No. 1 mortgage finance company, Fannie Mae , charges it with inappropriate accounting practices and called into doubt past financial results, the company's board said on Wednesday.
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Mortgage giant Fannie Mae missed a regulatory deadline Monday for filing its third-quarter financial results after its independent auditor KPMG refused to sign off on the report.
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The Securities and Exchange Commission is months away from deciding whether Washington mortgage giant Fannie Mae will need to restate its earnings in the aftermath of a sharply critical report on its accounting practices, according to government and company officials.
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The U.S. Securities and Exchange  Commission on Wednesday said Fannie Mae misapplied accounting  principles and called on the mortgage finance company to  restate earnings.
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WASHINGTON - Fannie Mae, the giant mortgage finance company, Monday agreed to abandon accounting methods its regulator criticized last week as being used to manipulate financial results.
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Unlike recent financial scandals, issues raised by Fannie Mae's regulators pertain to unwieldy accounting rules that are open to widely divergent interpretations.
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Regulators have discovered serious accounting problems at mortgage giant Fannie Mae, prompting an inquiry by the Securities and Exchange Commission and calling into question its
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It took an army of accountants two years and more than $1.4 billion to quantify the mess, but Fannie Mae yesterday issued the final tally of its accounting errors, saying it overstated past profits by $6.3 billion.