Fannie Mae regulator warns deeper problems可能
OFHEO director Armando Falcon warned that Fannie Mae accounting flaws may be more extensive raising concerns for housing finance. He noted falsified signatures on transactions aided earnings targets in 1998 enabling $27 million in executive bonuses as investigations widen. The SEC ordered restatement back to 2001 with potential $11 billion impact amid ongoing criminal probe.
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Falcon pushes for tighter oversight of Fannie Mae and Freddie Mac
Former HUD watchdog Frank Raines era oversight and accounting crises at Fannie Mae and Freddie Mac highlight risks in the 8 trillion dollar housing market. Falcon warns that failures at either company could curb consumer mortgage lending and disrupt markets, as Congress weighs a new regulator with broader powers.
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