Shrinking Fannie
Mortgage giant Fannie Mae, whose accounting is under investigation by federal regulators, continues to shrink its loan portfolio at a robust clip and trimmed it by nearly 1.8 percent last month, a report released Monday by the company shows.
Last week, Fannie Mae disclosed that it will miss the March 31 SEC deadline for filing its financial report for 2004 and that it was unable to provide "a reasonable estimate" of its earnings for 2003 and 2004. The discovery by regulators of falsified signatures on accounting ledgers raised the possibility of criminal activity by employees at the Washington-based company.
Fannie Mae Shrinks Loan Portfolio
Fannies Hole Gets Bigger
Last week, Fannie Mae disclosed that it will miss the March 31 SEC deadline for filing its financial report for 2004 and that it was unable to provide "a reasonable estimate" of its earnings for 2003 and 2004. The discovery by regulators of falsified signatures on accounting ledgers raised the possibility of criminal activity by employees at the Washington-based company.
Fannie Mae Shrinks Loan Portfolio
Fannies Hole Gets Bigger
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