CEO Daniel Mudd
CEO Daniel Mudd has been the chief executive officer of Fannie Mae since 2005. He is 47 years old. Follow Mr. Mudd and Fannie Mae in the news and blogs or share your own opinion about the company and its leadership.
Treasury denies Fannie Mae tax credit plan
Government controlled mortgage provider Fannie Mae said Monday the U.S. Treasury has blocked its plans to sell more than $2.5 billion in low-income housing tax credits.
In a regulatory filing Monday, Fannie Mae, formally known as Federal National Mortgage Assoc., said it had planned to transfer equity interest in the credits to investors.
The Treasury, however, blocked the move saying it would result in a loss of tax revenue greater than the savings to the government.
Fannie Mae said it was evaluating whether it must record the credits as an impairment in the fourth quarter.
As of Sept. 30, the value of the credits was $5.2 billion. If recorded as an impairment, Fannie Mae's net worth would be reduced by that amount.
(This version CORRECTS amount of tax credits in lead paragraph.)
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The 10 Best and 10 Worst Celebrity Tippers
We've combed the Internet to find the stories of celebs who tip a hefty chunk of change, and those who barely tip pocket change at all.
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Richard Branson is Awesome
If there were a magazine called "Eccentric Billionaire Playboy", Sir Richard Branson would be on every cover.
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Celebs Ring the Bell at the New York Stock Exchange
See stars promote themselves by ringing the NYSE opening bell.
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