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.
Fannie Mae, the largest U.S. buyer of home mortgages, recently was ordered by the Securities and Exchange Commission to restate its earnings back to 2001, a correction that could reach an estimated $11 billion. Another federal agency has given the government-sponsored company until Sept. 30 to boost its capital cushion against risk by 30 percent, or some $5 billion.
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