Mortgage Refinance Capital Information and Resources

Things are just not getting any better for Fannie Mae.

The largest mortgage conduit in the world has been struggling for nearly a year to put right a multitude of problems arising from some fast accounting footwork dating back to 2001. The outcome of these maybe intentional, maybe not errors has been a requirement that the corporation restate earnings dating back over the four questionable years. In the dustup two top executives, most notably CEO Franklin Raines, were either fired or retired depending on whom you ask and Fannie Mae (Stock symbol, FNM), a staple of the New York Stock Exchange (NYSE) has failed to file the required financial reports to the Securities and Exchange Commission (SEC) since late last year. Its announcement this week that it will be blowing off yet another report has crossed the regulatory line where, under NYSE's own rules regarding reporting, the exchange could be required to de-list Fannie Mae Stock.