Fannie Mae Does Some Catching Up

Shares of the mortgage giant rose Thursday after it posted restated results for 2001-04 -- and boosted its dividend

Fannie Mae (FNM) finally turned in its restatement of incorrect accounting after spending years on the effort. The mortgage giant's shares rose 2.5% on Dec. 7 after it announced having overstated its income between 2001 and June 30, 2004 by $6.3 billion.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.