New Rule for Fannie, Freddie

Washington Post (06/11/08) P. D4
Fannie Mae and Freddie Mac could be required to boost their capital reserves under a new rule approved by the Office of Federal Housing Enterprise Oversight, which will be imposed as soon as it is published in the Federal Register. The rule governs the accounting treatment of foreclosed property costs, with the agency noting that the government-sponsored enterprises should have been posting losses on certain single-family and federally backed home loans but were recording profits instead.