Terence Edwards Promoted to Fannie COO

Fannie Mae has promoted Terence Edwards, the former president and CEO of PHH Corp., to executive vice president and chief operating officer.

Most recently, Edwards was executive vice president—credit portfolio management, a position he held since September 2009.

According to an 8-K filing obtained via DisclosureNet.com, Edwards now has responsibility for overseeing the execution of Fannie Mae’s key strategic initiatives. He also has retained responsibility for the credit portfolio management organization.

Edwards was at PHH from January 2005 to June 2009, when he and then-chairman A.B. Krongard were forced out of their jobs when dissident shareholders elected former Freddie Mac CEO Gregory Parseghian and another candidate to the board of directors.