Fannie Mae Execs, Regulator Square Off
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Fannie Mae executives and their  regulator squared off on Wednesday, with executives denying any  accounting irregularity and the regulator saying the housing  finance company's management may need to go.
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Embattled mortgage finance giant Fannie Mae (FNM.N: Quote, Profile, Research) was close to a deal with regulators late on Sunday that would force the company
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WASHINGTON Oct. 6, 2004 - Fannie Mae&#39;s chief executive and another top official on Wednesday defended the mortgage giant&#39;s accounting and told Congress that regulators&#39; allegations of earnings manipulation represent an interpretation of complex rules.
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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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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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WASHINGTON Sept. 24, 2004 - Shares of Fannie Mae fell again on Friday, capping a three-day slide of more than 13 percent, as investor concerns widened after a government regulator accused top executives
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Fannie Maeâs regulator, the Office of Federal Housing Enterprise Oversight, has launched a probe into the bonuses and compensations received by the two top executives fired earlier this week.
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Fannie Mae's board of directors met Monday to hear details about accounting problems its regulators have uncovered during a long-running review, according to a source familiar with the matter.
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Speculation swirled Thursday over the futures of Fannie Mae&#39;s top executives after regulators&#39; cited the mortgage giant for accounting violations going back to 2001.
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Fannie Mae&#39;s board of directors met yesterday to hear details about accounting problems its regulators have uncovered during a long-running review, according to a source familiar with the matter.
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Former Fannie Mae chairman and chief executive Franklin D. Raines, accused of manipulating the housing finance company's earnings, is challenging regulators to make their case against him beginning Feb. 16 instead of waiting until the end of the year.
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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 Congressional critics of two big federal mortgage programs say they&#39;ll renew efforts to clamp tighter regulatory controls on Fannie Mae and Freddie Mac.
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The chief executive and chief finance officer of America&#39;s second-largest financial institution, mortgage provider Fannie Mae, have stepped down following a row over accounting irregularities.
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The turnover at Fannie Mae continued as three more executives who shared responsibility for the mortgage-funding company's accounting stepped down late last week.
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NEW YORK - The board of embattled mortgage finance enterprise Fannie Mae met on Sunday and has apparently decided that Chief Financial Officer Timothy Howard will step down, the Wall Street Journal reported on Monday.
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As investigators dig into Fannie Mae's financials, they will find detailed statements defending the company's accounting practices by Franklin D. Raines, Fannie's chairman and chief executive, that are directly contradicted by the highly critical report issued last week by the company's chief regulator.