Fannie Execs Retiring

The heads of single-family mortgage business and investor relations at Fannie Mae are retiring and leaving the troubled company, effective Jan. 31.The company said Louis Hoyes, executive vice president for single-family, and Jayne Shontell, senior vice president for investor relations, are taking "planned retirements." Mr. Hoyes has worked at Fannie Mae since 1995. Thomas Lund, who is chief acquisition officer of Fannie's credit guarantee business, will be interim head of the single-family business. Ms. Shontell joined Fannie Mae in 1982. Vice president Mary Lou Christy will succeed her as head of investor relations. In related news, Fannie Mae has hired former Securities and Exchange Commission chairman Richard Breeden to serve as strategic counsel to advise the company on its restatement of earnings and re-audit. Fannie Mae can be found online at http://www.fanniemae.com.