CALIFORNIA - News from March 4, 1988

Roslyn B. Payne said she will leave the Federal Asset Disposition Assn. when her permanent replacement as chief executive has been selected and starts work. It was previously expected that Payne would stay with the quasi-government agency as a consultant in San Francisco.

Payne, now president and chief operating officer, was moved aside as chief executive of FADA last fall because of heavy congressional pressure. FADA was formed in 1985 to liquidate the assets of failed savings and loans that have been taken over by federal thrift regulators.