G-Fee, Securities Accounting Problems Contribute to Further Financial Reporting Delays at Fannie Mae
Fannie Mae announced this week that it has discovered further accounting problems, some of which were tied to certain MBS guaranty activity, that will delay the government-sponsored enterprise’s release of current financial results. In a March 13 filing with the Securities and Exchange Commission, Fannie Mae cited a failure to “recognize certain guaranty fees as retained interests and certain recourse obligations in connection with the Fannie Mae MBS trusts for which we were the transferor…