CEO Daniel Mudd

Media: They laugh at his jokes. They say he's the smartest guy in Congress. And 90% of them agree with him politically. Small wonder the havoc Barney Frank wreaks on the economy gets so little attention. America has its share of problems, to be sure. But one of the most pernicious is the bias that permeates the media. We've been saying this for years, noting how it leads to half-covered issues, an ill-informed populace and wretched legislation that dogs us for decades. Never, however, has it been as pervasive as now. Yes, the fact that the media are head over heels for our new ... Read Full Story

Fannie Mae recently announced that Karen Pallotta will become the head of the company’s single family mortgage business starting June 1, 2009.  She is replacing Thomas Lund, who is retiring from the company as of June 30, 2009. Pallotta joined Fannie Mae in 1990 and has served in a variety of leadership roles which include Senior Vice President, Product Acquisition Strategy and Support.  Previously, Pallotta was Vice President of Marketing and Lender Strategies where she managed a team responsible for developing and implementing marketing strategies for the single-family business, managing Fannie Mae’s sales presence at industry events, and undertaking customer outreach and education. "Karen’s ... Read Full Story

     Massachusetts Congressman Barney Frank   sent a letter to the CEO's of both Fannie Mae and Freddie Mac asking them to relax standards on some condominium mortgages.  Yes, you read that correctly.  The shoddy underwriting standards that contributed to our Nation's financial problems apparently haven't taught Barny Frank a thing.       I'm sure the Congressman could easily defend this decision, since the financial crisis was due exclusively to corporate greed, and had nothing to do with borrowers spending more than they could afford  (that's his story, and he's sticking to it).  Maybe I'm mistaken, but these unsold condominiums would eventually sell once the ... Read Full Story

Fannie Mae said Monday 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 also 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. "Mike brings a steady hand, extensive experience and a deep understanding of the company and the ... Read Full Story

But will the Lame Stream Media notice? WASHINGTON — Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s. So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions. Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank’s relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking ... Read Full Story