Industry News

Fannie Mae sues auditor KPMG

Mortgage repurchaser seeks $2 billion in damages for accounting scandal
Published on Dec 13, 2006

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by CareyBot

Fannie Mae has sued its former outside auditor, KPMG LLP, alleging the firm’s “professional negligence” forced the government-sponsored mortgage repurchaser to undertake one of the largest accounting restatements in history. In a complaint filed Tuesday in the Superior Court of ...