Office of Federal Housing Enterprise Oversight Director Armando Falcon stuck to his guns at an industry luncheon this week, asserting that Fannie Mae has intentionally violated basic accounting principles and outlining a plan of action if the GSE ends up restating its earnings. “We believe that Fannie Mae did understand the rules, [it] just didn’t follow them,” Falcon said at an event sponsored by Women in Housing and Finance. “A company of this size and