Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) are masking billions of dollars of potential losses on delinquent loans, a government auditor observed.
According to Steve Linick, inspector general for the Federal Housing Finance Agency, a recent accounting change could have a material impact on the two government-sponsored enterprises’ finances and suggested immediate implementation.
FHFA gives Fannie Mae and Freddie Mac to 2015
Both Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp...
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