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Fannie Mae Façade: Fannie Mae Criticized for Earnings Manipulation
Washington, D.C. – James B. Lockhart, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), today released its Report of the Special Examination of Fannie Mae. The report details an arrogant and unethical corporate culture where Fannie Mae employees manipulated accounting...
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OFHEO Report on Findings of Special Examination of Fannie Mae to be Released Next Week
Washington, D.C. – James B. Lockhart, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), today announced that the Report of the Special Examination of Fannie Mae will be released next Tuesday at 10 a.m. May 23, 2006. Corinne Russell (202) 649-3032 / Stefanie Johnson...
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OFHEO and FinCEN Sign Agreement to Share Mortgage Fraud Data
Washington, D.C. – The Office of Federal Housing Enterprise Oversight(OFHEO) and the Financial Crimes Enforcement Network (FinCEN) have reached an agreement to facilitate the sharing of information by OFHEO of its examination findings regarding actual or suspected mortgage fraud with FinCEN. FinCEN...
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FHFB Authorizes Debt Issuance by the Federal Home Loan Bank of Chicago
The Federal Housing Finance Board voted today to authorize the Federal Home Loan Bank of Chicago to issue subordinated debt for which it would be the sole obligor. Debt issued by the FHLBanks is typically the joint and several obligation of all twelve FHLBanks. The action by the Finance Board...
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FHFB Aumends Capital Structure Plan of the FHLBank of Atlanta And Reappoints Terry Smith To The Board Of Directors Of the Office Of Finance
The Federal Housing Finance Board (Finance Board) today approved a request from the Federal Home Loan Bank of Atlanta to amend the Bank’s capital structure plan. The amendments include the removal of obsolete transition-related provisions, the addition of new definitions, and the clarification of...
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OFHEO Releases 2005 Performance and Accountability Report
Washington, D.C. – Stephen Blumental, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac, today released its first Performance and Accountability Report (PAR). In prior years, OFHEO issues separate annual...
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OFHEO Enters Into Consent Order with Freddie Mac
Washington, D.C. – The Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac, today announced an agreement with Freddie Mac to settle the action brought against the company by OFHEO in late 2003. That action involved former employees...
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OFHEO Reaches Agreements with Fannie Mae, Freddie Mac on Subordinate Debt, Disclosures
Washington, D.C. – The Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac today announced formal agreements with the companies, replacing voluntary commitments made by the companies in October 2000. "These agreements represent an...
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OFHEO Issues “Mortgage Markets and the Enterprises in 2004”
Washington, D.C. – Steve Blumenthal, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac today issued a research report, “Mortgage Markets and the Enterprises in 2004.” The research report covers...
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OFHEO Finalizes Regulation on Mortgage Fraud
Washington, D.C. – The Office of Federal Housing Enterprise Oversight (OFHEO) has finalized for publication in the Federal Registera regulation requiring Fannie Mae and Freddie Mac (the “Enterprises”) to report mortgage fraud or possible mortgage fraud in a timely fashion. The regulation, effective...