Moving to "restore integrity" to sales of its long-term securities, the Federal National Mortgage Association placed all 53 firms that sell its debt on probation for one year.

The congressionally chartered mortgage agency, known as Fannie Mae, said Monday it found the entire debenture-selling group guilty of improprieties that included exaggerating customer demand, misstating actual purchases, or buying Fannie Mae debentures for their own accounts without permission.

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