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The Congress, after a scandal at World Com Inc. and improprieties at Enron Corp. has moved to crack down on the accounting industry and boost enforcement by the Securities and Exchange Commission. However, some lawmakers believe that it is time for Congress to turn its attention to mortgage financing giants Fannie Mae and Freddie Mac, two of the largest and most under-regulated United States financial institutions.

Byline: Jeff Horwitz There's no law against running a flawed business poorly. If there were, the SEC would have far more to work with in going after former Fannie Mae [...]

Byline: Donna Borak WASHINGTON - The Federal Housing Finance Agency knew as early as 2009 about potentially abusive foreclosure practices but took no action to curb them, according to a [...]

About three weeks after being seized by the U.S. Department of the Treasury and put in conservatorship, beleaguered housing mortgage lenders Freddie Mac and Fannie Mae revealed that they have [...]

James Lockhart, director of the Office of Federal Housing Enterprise Oversight, criticized New York Attorney General Andrew Cuomo on Thursday for subpoenaing Fannie Mae and Freddie Mac to provide information [...]

Freddie Mac said Tuesday that the Justice Department's investigation of its accounting practices has stalled for more than two years and is now 'inactive.' 'Accordingly, we expect no further action [...]

WASHINGTON -- Fannie Mae received a boost from investors after announcing Thursday morning that the Justice Department has dropped its investigation of the government-sponsored enterprise's financial restatement. Fannie's stock rose [...]

The Department of Housing and Urban Development said Thursday that it has begun a review of Fannie Mae and Freddie Mac's investment activities and that the review should last through [...]

WASHINGTON -- Fannie Mae faces yet another crossroad this week as the results of an investigation into the government-sponsored enterprise's accounting scandal are made public. Depending on what he found [...]

Sen. Chuck Hagel, R-Neb., unveiled and withdrew a measure Thursday that would have put Fannie Mae and Freddie Mac under additional Securities and Exchange Commission oversight. Sen. Hagel introduced the [...]

This week has brought more confusion about the strength of Fannie Mae's capital position. Late Wednesday the Office of Federal Housing Enterprise Oversight announced that both Fannie and Freddie Mac [...]

WASHINGTON -- A House Financial Services Committee report shared with lawmakers Thursday accused Fannie Mae and Freddie Mac of engaging over several years in a series of dubious transactions to [...]

WASHINGTON -- Lawmakers hammered the top executives of Fannie Mae and Freddie Mac at a Senate Banking Committee hearing Wednesday, questioning the companies' credibility, the size of their mortgage portfolios, [...]

Freddie Mac and National City Corp. have found that a California mortgage broker gave borrowers cash incentives to refinance mortgages at above-market rates. Freddie announced the discovery Wednesday. It is [...]

House Financial Services Committee Chairman Michael G. Oxley praised the Office of Federal Housing Enterprise Oversight for finding the accounting problems at Fannie Mae and seeking to correct them. 'It [...]

For a man running a company that restated earnings by $5 billion last year, has yet to release any 2004 financials, and is being scrutinized by lawmakers, regulators, and critics, [...]

Freddie Mac's outside law firm, Baker Botts LLP, and the Office of Federal Housing Enterprise Oversight have begun examinations into the government-sponsored enterprise's servicing arrangements with Bank of America Corp., [...]

The Department of Housing and Urban Development is seeking to clarify, codify, and enhance its ability to ensure the accuracy of reporting that enables it to determine if Fannie Mae [...]

The Department of Housing and Urban Development is examining whether three multifamily transactions Fannie Mae and Freddie Mac entered at the end of last year should count toward housing goals, [...]

House Financial Services Committee Chairman Michael G. Oxley has asked Fannie Mae and Freddie Mac to provide supporting documents on any transaction valued above $1 billion designed to satisfy affordable [...]

Freddie Mac said Thursday that its chief lobbyist, R. Mitchell Delk, had left and would not receive certain compensation pending an investigation by the Federal Election Commission into his fund-raising [...]

The Office of Federal Housing Enterprise Oversight said Thursday that it is seeking $37.8 million of penalties from two former Freddie Mac executives for their role in the company's massive [...]

A consumer advocacy group founded by Ralph Nader asked the Federal Election Commission on Wednesday to investigate the campaign fund-raising practices of Mitch Delk, Freddie Mac's top lobbyist. In a [...]

A House panel hearing Thursday ostensibly called to explore Freddie Mac s accounting transgressions turned into a broad-based inquiry into the shortcomings of generally accepted accounting principles. Lawmakers and expert [...]

A House subcommittee on Monday announced that it will examine the accounting issues raised by the earnings restatements at Freddie Mac. The Commerce Committee's consumer protection subcommittee has scheduled a [...]

File this one under unintended irony. In a speech Wednesday, Freddie Mac chief executive Greg Parseghian, under fire for his involvement in transactions that contributed to an ongoing accounting scandal, [...]

Freddie Mac's 107-page report last week on the results of its internal investigation seemed to confirm what many outsiders long believed -- new accounting will mean more volatile earnings, but [...]

As expected, the report on Freddie Mac's internal investigation put much of the blame for its improper accounting with David Glenn, the executive it fired a month ago. But there [...]

Freddie Mac's most detailed explanation to date of its accounting woes raised more questions than it answered and prompted a prominent lawmaker to call for additional probes of the government-sponsored [...]

The massive management shake-up at Freddie Mac is a pointed reminder that no corporation is immune to financial shock. Freddie Mac and Fannie Mae carry more than $1 trillion of [...]

Rep. Richard Baker told reporters Tuesday that he expects to hold two sets of hearings on Freddie Mac's recent problems. The Louisiana Republican's office confirmed wire service reports that he [...]

The revelation of accounting troubles at Freddie Mac bolsters the administration's call for the Federal Home Loan banks to register their stock under the Securities and Exchange Act of 1934, [...]

Two top administration officials commented Thursday on the developing accounting scandal at Freddie Mac, with one calling for better oversight of government-sponsored enterprises and another predicting that Freddie's troubles will [...]

After Friday's snafu with Fannie Mae and Freddie Mac, lawmakers are expected to grill Treasury Department Under Secretary for Domestic Finance Peter Fisher at a hearing Tuesday called to expose [...]

The Office of Federal Housing Enterprise Oversight said Monday that it will conduct a comprehensive review of Fannie Mae's and Freddie Mac's financial disclosure policies and practices. It will compare [...]

Key lawmakers said last week they will investigate alleged threats by Fannie Mae and Freddie Mac against leaders of FW Watch, a group organized by major mortgage lenders lobbying for [...]