TITLE

Business Wire's Take On Fannie 3Q Snafu

AUTHOR(S)
Shenn, Jody
PUB. DATE
November 2003
SOURCE
American Banker;11/4/2003, Vol. 168 Issue 212, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The president of Business Wire said a "misunderstanding" led to a confusion last week involving the Federal National Mortgage Association's (Fannie) revision of certain items in its third-quarter earnings report. In an interview Friday, Cathy Baron Tamraz said no employees have been disciplined and the San Francisco-based press release distributor was still investigating what went wrong. An announcement that Fannie would make changes to its October 16 earnings statement ran early Wednesday afternoon on Business Wire. Fannie's shares were hammered, and it took about 90 minutes for the mortgage company to follow with more detailed information.
ACCESSION #
11271196

 

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