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Home » Store » News » Fannie Mae Details More Accounting Problems; Sees Short-Term Challenges, Long-Term Opportunities

Fannie Mae Details More Accounting Problems; Sees Short-Term Challenges, Long-Term Opportunities

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Fannie Mae this week revealed more glitches in its accounting systems that will further delay its ability to file timely financial results for 2005. In a March 13 filing with the Securities and Exchange Commission, the government-sponsored enterprise said it had discovered errors in how it accounted for certain MBS guarantee fees, real-estate owned and foreclosed property expenses, troubled debt restructurings and accrual of interest on seriously delinquent loans. …
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