Fannie executives denounce regulator

Article Abstract:

Fannie Mae chairman and CEO Franklin D. Raines asserted that the mortgage company's accounting methods were within accepted standards. He criticized the Office of Federal Housing Enterprise Oversight for confronting the board before giving Fannie management a chance to explain.

Beliefs, opinions and attitudes, Raines, Franklin

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Fannie paid little for its audits

Article Abstract:

Fannie Mae's current problems may be due, in part, to the cheap audits it was receiving from KPMG LLP. Accounting specialists say it would be impossible for a company of Fannie Mae's size to receive a quality audit for less than $3 million.

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U.S. probes allegations at mortgage financier

Article Abstract:

The Freddie Mac mortgage firm is being investigated by US federal prosecutors for alleged irregularities. The firm is being investigated for accounting and other issues.

Mortgage bankers and correspondents, Mortgages, Investigations, Federal Home Loan Mortgage Corp., FRE

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