Another Fannie Director Resigns

Fannie Mae director Donald Marron has resigned from the GSE's board, effective July 31, according to a filing with the Securities and Exchange Commission.As of MortgageWire's deadline, a Fannie Mae spokeswoman had not returned a telephone call about the matter. Mr. Marron, an investment banking veteran, has been a board member since 2001. About two weeks ago Fannie also revealed that longtime director Ann Korologos would step down on July 31. Both directors are defendants in a shareholder lawsuit that accuses board members (and current and former executives) of profiting from the government-sponsored enterprise's accounting manipulations "via huge bonuses, improper stock sales and/or a web of lucrative personal and financial interrelationships…." Mr. Marron currently chairs Lightyear Capital, a private equity fund that controls DeepGreen Financial of Ohio, an online home equity lender.