Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) are masking billions of dollars of potential losses on delinquent loans, a government auditor observed. According to Steve Linick, inspector general for the Federal Housing Finance Agency, a recent accounting change could have a material impact on the two government-sponsored enterprises’ finances and suggested immediate implementation. FHFA gives Fannie Mae and Freddie Mac to 2015 Both Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) are overseen by FHFA. The regulator ordered the GSEs in April 2012,…
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