Articles
Daily News and Information for the Mortgage Loan Originator
Fannie Mae Dodges Bullet
Wednesday, August 30, 2006 -

WASHINGTON, DC -- Fannie Mae announced that it has been advised by the United States Attorney's Office for the District of Columbia, which has been investigating Fannie Mae's accounting policies and practices, that it is discontinuing its investigation and does not plan to file charges against the company. Fannie Mae was initially notified in October, 2004 of the U.S. Attorney's investigation of the company.

The company announced in May that it had agreed to comprehensive settlements resolving matters with the Office of Federal Housing Enterprise Oversight (OFHEO) and the U.S. Securities and Exchange Commission (SEC).

In its latest 12b-25 filing, the company stated that it would complete its ongoing restatement by the end of 2006.

Related Articles :

  • Fannie, Freddie Welcome Tighter Oversight
    Representatives of the two federally chartered entities, engulfed in two years of accounting scandals and ongoing investigations, plan to tell Congress Wednesday they support the idea of a stronger, independent federal regulator to oversee them, the Washington Post said Wednesday.
  • Fannie and Freddie Need Thoughtful Reform - Not Major Surgery
    Although houses have never been more expensive than today, home sales surged to an all-time record this summer and more than 50-million American families are expected to purchase homes over the next 10 years. That's why it is doubly imperative that Congress does everything in its power to preserve the strength of the nation's secondary mortgage market system as it puts the finishing touches on much-needed reform legislation.
  • House OKs New Fannie, Freddie Regulator
    The U.S. House of Representatives has approved a bill to create a new regulator for scandal-ridden mortgage giants Fannie Mae and Freddie Mac. By a 331-90 vote, the chamber Wednesday created the Federal Housing Finance Agency...
  • Fannie Mae Reaches Agreement Regarding Home Appraisals
    As part of a new agreement, Fannie Mae will take two steps to assist regulators in their efforts to enhance the quality and independence of the appraisal process.

 
Search Articles :

 

For More Mortgage Industry News
Click Here

 

Industry Directory

 

Receive FREE Industry News
Via E-mail

Email Address:
 
Breaking Headlines

 
 
 
Take Our Poll

 

Copyright © 2009 Fiscape Publications, LLC. - All Rights Reserved