Fannie Mae Investigation Report Looks to be Clear of New Problems

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00022314-fannie-mae-investigation-report-looks-to-/

By Kristin Roberts, Reuters

Fannie Mae shares soared more than 9 percent on Thursday after an investigator hired by the mortgage finance giant indicated he had discovered no new accounting problems.

Former New Hampshire Republican Sen. Warren Rudman on Wednesday said he was still drafting parts of his report on Fannie’s multibillion-dollar accounting problems and was reviewing new documents in the case.

But he said his legal team had the information it needed, and indicated that nothing had been uncovered that had not already been disclosed.

For this complete story, please visit Fannie Mae Investigation Report Looks to be Clear of New Problems.