TITLE

$1.2B Error Adds to GSE Turmoil

AUTHOR(S)
Muolo, Paulo
PUB. DATE
November 2003
SOURCE
National Mortgage News;11/3/2003, Vol. 28 Issue 8, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that Federal National Mortgage Association accountants revealed a $1.2 billion computational error affecting its 2003 third quarter financial statements. Immediate decline of Federal National Mortgage Association stocks after the announcement; Clarifications made by Federal National Mortgage Association senior vice president Jayne Shontell about the computational error; Effect of the error on the company's third quarter earnings.
ACCESSION #
11272758

 

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