Report of the Special Examination of Fannie Mae

     OFHEO , May 23, 2006

     The long-awaited report by the Office of Federal Housing Enterprise Oversight came as Fannie Mae, which has not filed an earnings statement since late 2004, corrects its accounting and struggles to emerge from an $11 billion scandal.

  Fannie Mae       Yahoo News     Download (Pdf, 4.8MB)

Federal regulators issued a blistering report about mortgage giant Fannie Mae on Tuesday, alleging accounting manipulation aimed at lining executives' pockets and lying to investors about smooth growth in profits and earnings.

The government-sponsored mortgage company was fined $400 million and agreed to limit its growth.

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