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Finance Board Approves Amendment to Seattle FHLB Capital Structure
The Board of Directors of the Federal Housing Finance Board (Finance Board) today approved a request by the Federal Home Loan Bank of Seattle to amend its previously approved capital structure plan (Plan). The more significant amendments to the Plan would authorize the establishment of an interim...
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OFHEO Issues Report on Mortgage Markets and the Enterprises in 2005
WASHINGTON, DC – James B. Lockhart III, 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 2005.” The report covers developments in the housing...
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OFHEO Releases Annual Report to Congress
WASHINGTON, D.C. — James B. Lockhart, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today submitted the OFHEO 2006 Report to Congress, detailing examination conclusions and regulatory oversight of the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac...
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OFHEO Report: Fannie Mae Façade
Washington, DC – 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 and...
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OFHEO, SEC Reach Settlement with Fannie Mae; Penalty Imposed
Washington, D.C. – James B. Lockhart, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), today announced that Fannie Mae has agreed to implement corrective measures and pay a collective penalty of $400 million dollars as part of settlements with OFHEO and the Securities...
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OFHEO, SEC Reach Settlement with Fannie Mae
Washington, D.C. – James B. Lockhart, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), today announced that Fannie Mae has agreed to implement corrective measures and pay a collective penalty of $400 million dollars as part of settlements with OFHEO and the Securities...
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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...