BUSINESS BRIEFING / MORTGAGES
TIMES WIRE REPORTS
Fannie Mae said its board of directors tapped the company’s chief operating officer, Michael J. Williams, to take over as chief executive of the mortgage finance company in the wake of the previous CEO’s move to the Treasury Department.
In addition to being CEO, Williams will hold a seat on the company’s board, Fannie Mae said.
As executive vice president and COO, Williams has overseen the restructuring of Fannie Mae’s foreclosure-prevention and loss-mitigation efforts. He also has managed Fannie Mae’s reorganization and transition to conservatorship.
