Two Fannie Mae executives resign
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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&#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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Fannie Mae, the nation's largest buyer of home mortgages, said yesterday that it would deny its top executives their 2004 bonuses and that it had replaced its controller.
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A burgeoning scandal at America&#39;s second-largest financial institution that threatens to undermine the US housing market has seen two top executives forced out.
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Affiliated Computer Services Inc.  said on Monday its chief executive and chief financial officer had resigned because of their role in improper stock option grant practices.
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As expected, the growing accounting scandal swirling around Fannie Mae claimed the careers of two of its top executives. CEO Franklin Raines and CFO Timothy Howard were forced out Tuesday night by the mortgage finance corporationâs Board of Directors.
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The decision yesterday by Fannie Mae&#39;s board to get rid of its chief executive and chief financial officer illustrates the company&#39;s determination to try and restore its credibility
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WASHINGTON Under heavy pressure from regulators, Fannie Mae, the US mortgage finance giant, has forced out its chairman and chief executive, Franklin Raines, days after the company was found to have violated accounting rules.
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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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SYDNEY (Dow Jones)--The James Hardie Industries NV (JHX) asbestos funding scandal claimed its first two scalps Friday, with the resignations of Chief Executive Peter
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Fannie Mae, the nation's largest mortgage buyer, agreed to major changes in its accounting and management practices.
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Washington (Dec. 23, 2004) - Two top executives and auditor KPMG are out this week at Fannie Mae, following the Securities and Exchange Commission&#39;s decision that the mortgage giant violated accounting rules, leaving it faced with a massive restatement.
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WASHINGTON, DC-Franklin Raines has retired from the position of chairman and CEO at Fannie Mae and vice chairman and CFO J. Timothy Howard resigned from the lender.
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Thomas J. Fitzpatrick, the chief executive of Sallie Mae, abruptly resigned yesterday in what sources said was part of a campaign by the Reston-based student loan company to improve its tattered image on Capitol Hill.
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Fannie Mae&#39;s regulator has not approved the financial terms of the exits of two top executives and the men won&#39;t get that money until investigations of the company&#39;s finances are completed
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Bruce Nelson, chairman and chief executive of Office Depot Inc. of Delray Beach, Fla., Monday resigned by mutual agreement with the board.
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Two executive board members at Nokia resigned on Friday, bringing to three the number of top level managers to leave the worldâs largest producer of mobile phones in the last two weeks.