Exit Packages in Dispute at Fannie Mae
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Two top executives ousted from Fannie Mae last week appear headed for a fight with the company over the size of their multimillion-dollar benefits and the circumstances of their departure.
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Fannie Mae, the nation&#39;s largest mortgage buyer and a financial juggernaut that affects tens of millions of home buyers, agreed Monday to major changes in its accounting and management
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Fannie Mae's board of directors has proposed releasing millions of dollars of incentive payments to current and former employees based on the company's performance since 2003, including periods in which earnings were misstated and regulators allege the company was mismanaged.
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Source: Mortgage financer may be forced to keep up to $31B on hand while it fixes accounting woes. WASHINGTON  - Embattled mortgage finance giant Fannie Mae was close to a deal with regulators late
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Description: Fannie Mae, the nation&#39;s largest source of financing for home mortgages, faces accusations of pervasive accounting problems.
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A review by the Securities and Exchange Commission has found that Fannie Mae violated accounting rules, buttressing earlier determinations by another federal regulator and amplifying the prospect of an earnings restatement by the
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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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Fannie Mae&#39;s federal regulator found the largest US mortgage finance company violated accounting rules, raising ``doubts&#39;&#39; about the validity of earnings.
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WASHINGTON - Fannie Mae has agreed to forfeit some $7.5 million in an accord with the Justice Department, which had accused the mortgage giant of accepting money it knew had been lost by a federal agency in a fraud scheme.
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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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Fannie Mae, the giant mortgage finance company, agreed yesterday to abandon accounting methods that its regulator criticized last week as being used to manipulate financial results.
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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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NEW YORK, November 16  - Fannie Mae (FNM.NYS) has missed the regulatory deadline for filing its 3Q04 results with the SEC, while warning of an estimated net loss of $9 billion for the quarter.
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Franklin Raines, who was forced out as Fannie Mae's chief executive after five years, is slated to receive a monthly pension of more than &#36;114,000 for life, according to documents the mortgage lending giant filed Monday with the Securities and Exchange Commission.
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Two senior executives at Fannie Mae, the giant US mortgage provider, have resigned in the wake of criticisms over accounting irregularities.
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Fannie Mae , the nation's second largest financial institution, forced out two top executives as it struggles to deal with an accounting scandal which will likely force it to wipe out $9 billion in profits over the past four years.
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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.