Orange County Builder Named to Federal Mortgage Board

President Bush has appointed Christine Diemer Reed, executive director of the Orange County Building Industry Assn., to the board of the Federal National Mortgage Assn., more popularly known as Fannie Mae.

Reed, 37, of Corona del Mar, was named to a seat traditionally filled by a representative of the home-building industry. It is one of five seats filled by presidential appointment on the 18-member board.

Reed said she was “pleasantly surprised” by the appointment and said she would work to represent the building industry on the board of the private corporation, which buys mortgages on the secondary mortgage market, infusing new funds into the market.

Reed had been director of the California Department of Housing and Community Development--appointed by Gov. George Deukmejian in 1987--before taking over the powerful local builders’ trade association in July. The builders’ group numbers 1,100 members.