The article reports that the Federal National Mortgage Association (Fannie Mae) agreed to pay a $400 million fine to settle charges of accounting fraud. The U.S. Securities and Exchange Commission had accused Fannie Mae executives of changing earnings figures between 1998 and 2004. Fannie Mae's...
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thri...
One of the ways people commit fraud is to say it’s a primary residence and they’re going to live there and get around restrictions about the number of second homes and rental properties that can be covered under a mortgage. But if somebody said it was their primary home and their Nest...
The appraisers lost income and sometimes their jobs because the fraudulent lenders blacklisted honest appraisers. The senior officers who controlled the fraudulent lenders grew wealthy through leading the twin mortgage fraud epidemics (appraisal fraud and “liar’s” loans) and through the fraudulent...
You can use the future rents from other units to help you qualify for the mortgage. In This Article: Fannie Mae Now Allows 5% Down on Multifamily It costs hundreds of thousands of dollars to buy an “average” investment property. Even when investors use aninvestment property loanto cover ...
fraud by Fannie Mae Interview: Mike McNamee discusses possible accounting fraud by Fannie MaeInterview: Mike McNamee discusses possible accounting fraud by Fannie MaeROBERT SIEGEL
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U.S. finds fraud at Fannie Mae
Reports on the decline in value of the bonds of Fannie Mae after the emergence of a news report about its accounting violations in the U.S. Percentage of decline in Fannie Mae's stock; Statement issued by the Office of Federal Housing Enterprise Oversight regarding the expected capital surplus...