Unlike the Rudman report, which largely exonerated the Board of Directors at Fannie Mae, the recent report by the Office of Federal Housing Enterprise Oversight found much for which to blame the board. And some heads may roll as a result. Fannie’s Board of Directors contributed to the GSE’s problems “by failing to be sufficiently informed and to act independently of its chairman, Franklin Raines, and other senior executives; by failing to exercise the requisite…