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January 11, 2005

By Sule Aygoren Carranza

After the Securities and Exchange Commission determined that Fannie Mae had violated accounting rules, resulting in a $9-billion loss (see MHF, Dec. 28, 2004) and the Office of Federal Housing Enterprise Oversight maintained that the company was “significantly undercapitalized” and $3 billion below its minimum capital requirement, rebuilding and regrouping at the mortgage giant has begun.

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