HUD Secretary Comments on Fannie Mae
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WASHINGTON - It&#39;s up to the board of Fannie Mae to decide whether top managers should be removed in the wake of the mortgage giant&#39;s accounting crisis, HUD Secretary Alphonso Jackson said Wednesday.
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Whether mortgage finance giant Fannie Mae will have to restate its earnings as a result of accounting problems cited by regulators will be up to the Securities and Exchange Commission to consider, a company executive said Tuesday.
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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
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WASHINGTON, DC-Fannie Mae officials have revealed in a report filed to the Securities and Exchange Commission on December 27 that recently retired chairman and CEO Franklin D. Raines is owed an annual pension of $1.3 million for as long as he lives, as
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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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The Patrick administration's top housing officials met with nine mortgage lenders in the first of a series of meetings seeking to remedy the state's foreclosure crisis. Kofi Jones, spokeswoman for the Executive Office of Housing and Economic Development, described the 90-minute meeting as a preliminary discussion of what the state and lenders can do to help "keep people in their ...
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Three House Financial Services subcommittee chairmen yesterday called on Fannie Mae to answer allegations  that the company failed to blow the whistle on a mortgage fraud scam and accepted $6.5 million that it knew had been swindled from a government agency.
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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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The inspector general&#39;s office at the Department of Housing and Urban Development yesterday declined to release the results of an investigation of the HUD agency that regulates mortgage
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Because Fannie Mae&#39;s board of directors allowed CEO Franklin Raines to &quot;retire&quot; and chief financial officer Timothy Howard to resign late Wednesday, the Office of Federal Housing
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An affordable housing fund envisioned as part of a reform measure for mortgage finance companies Fannie Mae and Freddie Mac should have several contributors and be managed by a wide range of housing groups, a top congressional Democrat said on Thursday.
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The chairman of a key House panel said yesterday that he was cautiously optimistic that, after years of failed attempts, the latest effort to revamp oversight of mortgage funding giants Fannie Mae and Freddie Mac will bear fruit.
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The attorney general of Ohio said on Wednesday his office was considering bringing a shareholder lawsuit against mortgage buyer Fannie Mae over disclosures of subprime holdings.
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House members want answers from Homeland Security Secretary Michael Chertoff to a number of questions, from how his department manages multibillion-dollar contracts to how it assesses risk and divvies up scarce funds.
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Fannie Mae (FNM) CEO Franklin Raines defended his stewardship of the housing finance giant Wednesday, as a former employee said Raines ignored warnings of accounting problems.
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Fannie Mae yesterday released details of the severance package for Franklin Raines and said the former chairman and chief executive would continue to receive a salary until mid
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In their first response to regulators&#39; allegations that the company manipulated its books, executives of mortgage funding giant Fannie Mae plan to defend its accounting and say the actions