OFHEO Releases Findings to Date of Special Examination of Fannie Mae [pdf] Fannie Mae Directors Agree To Correct Accounting Treatments, Raise Capital Surplus As Required By OFHEO More on GSEs

• Chairman Michael G. Oxley
• Chairman Richard H. Baker
• Representative Michael N. Castle
• Representative Paul E. Gillmor
• Subcommittee Ranking Member Paul E. Kanjorski
• Representative Wm. Lacy Clay

Prepared Testimony:

• The Honorable Armando Falcon, Director, Office of Federal Housing Enterprise Oversight, accompanied by Ms. Wanda Deleo, Chief Accountant, and Mr. Christopher Dickerson, Chief Compliance Examiner, Office of Federal Housing Enterprise Oversight
• Mr. Franklin D. Raines, Chairman and Chief Executive Officer, Fannie Mae
• Mr. Timothy Howard, Vice Chairman and Chief Financial Officer, Fannie Mae
• The Honorable Ann McLaughlin Korologos, Presiding Director, Board of Directors, Fannie Mae
• Mr. Roger Barnes, Former Manager of Financial Accounting, Deferred Assets in Fannie Mae's Controller Division