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OFHEO Announces Final Enhanced Corporate Governance Regulation
Washington, D.C. – The Office of Federal Housing Enterprise Oversight (OFHEO) has sent to the Federal Register a final corporate governance rule that amends and strengthens the existing regulation and reduces the potential for future corporate misconduct at Fannie Mae and Freddie Mac. The...
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OFHEO Announces Supplemental Fannie Mae Agreement
Washington, D.C. – Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), has announced a second agreement with the Board of Directors of Fannie Mae to address deficiencies in internal controls, corporate governance and accounting systems. “While the special...
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OFHEO Classifies Fannie Mae as Significantly Undercapitalized for Third Quarter 2004
Washington, D.C. – Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), has classified Fannie Mae as significantly undercapitalized under OFHEO’s capital standards as of September...
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FHFB Signs Written Agreement With Federal Home Loan Bank of Seattle
The Federal Housing Finance Board today entered into a written agreement with the board of directors of the Federal Home Loan Bank of Seattle. The agreement addresses certain shortcomings in the Bank's governance, risk management and financial performance, which were identified during a regular...
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OFHEO Issues “Mortgage Markets and the Enterprises in 2003”
Washington, DC – Armando Falcon, Jr. 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 2003." The research report covers developments in the...
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Fannie Mae Directors Agree to Correct Accounting Treatments, Raise Capital Surplus as Required by OFHEO
Washington, D.C. – Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), has announced an agreement with the Fannie Mae Board of Directors requiring immediate action to address the improper accounting and inadequate controls detailed in OFHEO’s findings to...
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OFHEO Letter to Fannie Mae Board of Directors RE: Special Examination
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
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FHFB Signs Written Agreement With Federal Home Loan Bank of Chicago
The Federal Housing Finance Board today entered into a written agreement with the board of directors of the Federal Home Loan Bank of Chicago. The agreement addresses certain shortcomings in the Bank's risk management, internal audit, capital management, and accounting and financial recordkeeping...
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FHFB Moves to Require Federal Home Loan Banks to Register with SEC
The Federal Housing Finance Board today voted unanimously to require the 12 Federal Home Loan Banks to enhance their financial disclosures by registering with the U.S. Securities and Exchange Commission (SEC). By a vote of 4-0, the Finance Board passed a final rule under which each Federal Home Loan...
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OFHEO Submits Annual Report to Congress
Washington, D.C. – Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today submitted the OFHEO 2004 Report to Congress, detailing regulatory oversight of the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, for the year 2003. OFHEO’s...