Fannie Mae submits to changes in accounting
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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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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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The staff of the Securities and Exchange Commission has ordered Fannie Mae, the nation&#39;s largest buyer of mortgages, to restate its earnings over the last four years after
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Tim Howard, the Fannie Mae (FNM) chief financial officer at the center of a critical report on accounting problems at the mortgage investment company, has exercised
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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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Fannie Mae, the biggest source of money for U.S. home mortgages, broke accounting rules for financial contracts designed to protect against swings in interests rates.
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Fannie Mae&#39;s board, responding to accusations of improper accounting at the giant mortgage finance company, has agreed to a 30 per cent rise in minimum capital requirements and to much tighter control by regulators.
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Fannie Mae, the giant mortgage finance company, yesterday agreed to stop using accounting methods that its regulator criticized last week and to raise billions of dollars
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Risks from an accounting scandal at  U.S. mortgage finance Fannie Mae were greatly understated, and  deliberate smoothing of earnings overstated income by &#36;10.6  billion, its regulator said on Tuesday in a report on the  mortgage finance giant&#039;s accounting scandal.
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Mortgage giant Fannie Mae, under investigation by regulators and ordered to revamp its accounting, may have to restate its past earnings, a federal agency said Thursday.
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On Monday, Fannie Mae, the US largest government-ruled mortgage organisation, agreed to meet regulatorâs demand and restate its results as well as modify its accounting practices and lift capital reserve to 30% above the required minimum.
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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 used improper accounting to manipulate its quarterly earnings reports, regulators said, touching off the mortgage finance industry's second such controversy in less than 18 months.
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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 - Regulators have found serious accounting problems at mortgage giant Fannie Mae, prompting an inquiry by the Securities and Exchange Commission and calling into question its financial soundness. The company's shares dropped nearly 7 percent Wednesday...
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US mortgage finance company Fannie Mae on Friday said it would make public information about some securities it issues to comply with new Securities and Exchange Information rules.
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Shares of U.S. mortgage finance giant Fannie Mae  tumbled on Thursday after the Securities and Exchange Commission said the company must restate earnings because of accounting problems.