WASHINGTON – Three more executives have stepped down from their positions with Fannie Mae in the wake of allegations that the housing Government Sponsored Enterprise violated accounting rules and will have to restate the last four years worth of earnings. They include Jonathan Boyles, who oversaw accounting policy and tax; Janet Pennewell, who oversaw financial reporting; and Sam Rajappa, who oversaw internal auditing. The three will remain on the payroll as advisors. In addition, Fannie Mae announced that principal accounting officer Leanne Spencer, SVP and controller, was moving in to an advisory role at the end of January and will remain on the payroll for a year unless she resigns or is fired.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.