Fannie Mae will release the long-awaited report on its multibillion-dollar accounting problems from former New Hampshire Sen. Warren Rudman on Thursday at 8 a.m., the company said Wednesday.

Fannie said its board had received the report.

Rudman also has briefed Fannie's regulator, the Office of Federal Housing Enterprise Oversight, as well as the Securities & Exchange Commission and the Justice Department, agencies which are still investigating Fannie.

The mortgage finance company will hold a conference call with investors in the afternoon, after the market closes.

The long-awaited Rudman report will offer the most up-to-date comprehensive look at Fannie's multibillion-dollar troubles since the company's regulator, the Office of Federal Housing Enterprise Oversight, uncovered a host of accounting problems at the government-sponsored enterprise.

Problems identified so far are expected to lead to a profit restatement of as much as $11 billion.

Rudman's findings could impact the push on Capitol Hill to pass legislation to stiffen oversight of Fannie and Freddie. A White House-backed bill would create a new regulator for the companies and curtail their business activities by forcing big cuts to the investment portfolios held by Fannie and its sibling government sponsored enterprise Freddie Mac.

While Washington speculated about the findings, investors on Wednesday bet the report would offer no significant revelations

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