Fannie Mae has announced the promotion of six company officers, including five vice presidents.Emmanuel Bailey, previously director of human resources, has been named vice president for human resources. Joy Cianci, formerly a principal in Fannie Mae's electronic business division, has been named managing director for lender management and operations in e-business. Amy Edwards, previously a director in the controller's office, has been named vice president for e-business financial and business services. Ann Eiler, formerly a director of accounting and audit, has been named vice president for audit. Thomas King, previously regional counsel for the Chicago office, has been named vice president and deputy general counsel for strategic business initiatives. And Charles Rumfola, formerly director of marketing, has been named vice president for manufactured housing. Fannie Mae can be found online at http://www.fanniemae.com.
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Experts have some tips for how to best employ strategies that can minimize the damage from changes in the market.
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Bill Pulte, FHFA director, has ordered Fannie Mae to update its servicer guide to mirror Freddie Mac policy regarding notifying borrowers about dropping MI.
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Seven of eight offices are open; debit cards are capped at $1,000 a day; and the bank's website is down. The bank has given no restoration date.
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It will be a promotion for Jones, currently the deputy assistant secretary for single-family housing at the Department of Housing and Urban Development.
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The Federal Housing Administration share of August new-home purchase applications hit its highest mark in three months, the Mortgage Bankers Association said.
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While Federal Reserve Chair Kevin Warsh has sought to inject some mystery into the central bank's communications with markets, an American Banker analysis shows that officials other than the chair have been speaking more and more frequently over the last few decades.
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