Government-sponsored mortgage lender Fannie Mae said Thursday the U.S. Attorney’s Office for the District of Columbia, which has been investigating Fannie Mae’s accounting, is ending its investigation and doesn’t plan to file charges against the company.
The company announced in May it agreed to comprehensive settlements resolving matters with the Office of Federal Housing Enterprise Oversight and the U.S. Securities and Exchange Commission. Fannie Mae expects to complete its ongoing restatement by the end of 2006.
“We will continue to work closely and cooperatively with our regulators as we move forward to carry out the terms of our agreements, complete our restatement and build a better company,” said Daniel H. Mudd, president and CEO. Fannie Mae was initially notified in October 2004 of the U.S. Attorney’s probe.