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Fannie, Freddie improperly accounting for losses, IG says

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Fannie Mae and Freddie Mac haven't adopted accounting practices to show losses despite being told do so last year by the Federal Housing Finance Agency, according to the agency's inspector general. An Aug. 5 IG memorandum described concerns about the effect that the delay in writing off single-family mortgages that are more than 180 days delinquent would have on the two mortgage finance giants'...

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