Raines: Fannie Mae Board Meets, CEO Shakeup Possible
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Will he stay or will he go? Franklin Raines still has his job as chief executive of Fannie Mae (nyse: FNM - news - people ), but an executive shakeup was on the agenda when the mortgage giant&#39;s board met Sunday.
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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, the mortgage finance giant, said yesterday that its regulator would review the benefits the company planned to pay its former top two officers, Franklin D. Raines and J. Timothy Howard, after their ouster last week.
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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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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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(Updates with more quotes from CEO Lord on Sallie&#39;s privatization, accounting troubles at Fannie Mae and Freddie Mac , and PHEAA&#39;s recent rejection of a $1 billion offer from Sallie.
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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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A U.S. House Financial Services subcommittee will hold a hearing on accounting problems at mortgage funder Fannie Mae  next week, the committee said on Wednesday.
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Description: Top Fannie Mae executives defend the company&#39;s accounting practices in Congress. CEO Franklin Raines denied allegations the company had manipulated its books, telling lawmakers the controversy
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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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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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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.
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WASHINGTON -- Federal regulators have raised the possibility of removing the management of mortgage giant Fannie Mae after finding accounting problems they described yesterday as more serious than those that brought the ouster of top executives at rival Freddie Mac .
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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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WASHINGTON (CBS.MW) -- Fannie Mae is turning its focus to shoring up its capital levels Wednesday after two of its top executives left the company under pressure following an accounting scandal.
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Federal regulators, who are ordering Fannie Mae to take prompt action to remedy what they say are serious accounting problems, also have raised the possibility of removing top managers of the giant mortgage finance company.
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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.