Fannie Mae Issues Report On Restitution

Law360, New York (October 24, 2006, 12:00 AM EDT) -- The executives implicated in the $11 billion fraud at government-sponsored mortgage giant Fannie Mae may soon be held financially responsible for the scandal. The home lender detailed plans for collecting restitution from the executives in a recently released report.

Fannie Mae completed the report, which has not been made public, as part of a consent decree reached with the Office of Federal Housing Enterprise Oversight.

The consent decree requires the mortgage lender to investigate and report on whether top executives should retain their positions, and to...
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