Articles Tagged with ''Franklin Raines''

Fannie Mae names new CEO

Fannie Mae promoted its chief administrative officer and general counsel Timothy Mayopoulos to CEO.Mayopoulos will replace Michael Williams, who said he would resign in January but...
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Committee Grills Ex-Officers on Fannie, Freddie 'Irresponsibility'

The Committee on Oversight and Government Reform on Tuesday conducted a hearing to probe the role of government-sponsored entities Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] in the financial crisis. The Committee heard testimony from former Fannie executives Daniel Mudd, Franklin Raines, and Edward Pinto, as well as Freddie executives Leland Brendsel and Richard Syron.
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A Shakeup at Fannie Mae

Fannie Mae [stock FNM][/stock] on Wednesday shook up its top-level management in an effort to underscore its intentions to manage through the current credit cycle, jettisoning three key executives in a revamping of the company's executive team clearly designed to help bolster investor confidence.
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OFHEO Issues Clarification on Fair-Value Accounting; A Warning to Fannie, Freddie?

New guidance was published Monday by the Office of Federal Housing Enterprise Oversight on an accounting standard used to determine procudures and protocol for so-called fair-value accounting methods. The standard in question, FASB 159, is a companion to FASB 157; both standards govern the election to carry almost any financial instrument at "fair value."
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Fannie Mae Shares Plunge on News Report Questioning Credit Losses

Shares of Fannie Mae fell sharply today upon a report published by Fortune Thursday that questioned the GSE's method of accounting for credit losses. From the original story: Last week, as part of its earnings report, Fannie Mae revealed that the company had changed the way it calculates the credit loss ratio. Under the new method, Fannie Mae's annualized credit loss ratio was just 4 basis points in the first nine months of the year ...
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