Ginnie Prez Headed to Finance Board?

President Bush has nominated Ginnie Mae president Ronald Rosenfeld to be a member of the Federal Housing Finance Board.The president has not nominated anyone to take over at Ginnie Mae, so it appears that Mr. Rosenfeld will remain as Ginnie's president until he is confirmed by the Senate. He would become the fifth member of the Finance Board, which oversees the 12 Federal Home Loan Banks. Meanwhile, MortgageWire has learned that other personnel changes are in the works. Michael Frenz, Ginnie Mae's vice president for capital markets, is being promoted to executive vice president, replacing George Anderson, who announced earlier this year that he would be leaving Ginnie Mae. Mr. Anderson will continue to serve as a senior adviser to the Ginnie Mae president. Ginnie Mae can be found online at http://www.ginniemae.gov.