Fannie Mae Shuffles the Deck, Transferring Several Of Its Key

The Federal National Mortgage Association shuffled the responsibilities of several key senior executives last week. The agency transferred the head of its western regional office to Washington, appointed a new head of investor relations, and a new chief for its housing impact division.

John Fulford, who ran Fannie Mae's western regional office in Pasadena, Calif., was moved to its Washington headquarters, where he will be senior vice president of marketing. In a press release, chairman James A. Johnson said Mr. Fulford would implement new strategies for business development and market analysis.

Elizabeth Snyder, the agency's senior vice president of investor relations, will assume Mr. Fulford's duties at the Pasadena office, which oversees the agency's business in nine states.

Ms. Snyder became Fannie Mae's chief spokesman to investors upon the departure of Paul Paquin two years ago. She has also served as executive assistant to Mr. Johnson.

Continuing the shuffle, Jayne Shontell will assume Ms. Snyder's duties and title in investor relations.

Ms. Shontell, who joined Fannie Mae in 1982, was most recently senior vice president for information services, and played a key role in the agency's development of origination and underwriting technology for its lenders.

As vice president of mortgage-backed securities in the late 1980s, she developed financial securities and maintained dealer and investment banker relationships.

Michael Williams, who is senior vice president of customer applications and technology operations, will take over Ms. Shontell's task of developing the agency's MornetPlus network for lenders.

Mr. Williams has managed Fannie Mae's data resources since 1993, and his job now will be to "combine the resources of the company's technology and marketing forces within one organization," the press release said.

Finally, Barry Zigas was appointed senior vice president and executive director of the national housing impact division, which coordinates the agency's affordable-housing loans.

The division was previously headed by Larry Dale, who left last year to develop the agency's new Housing Venture Capital Fund.

Mr. Zigas was a housing activist before he joined Fannie Mae in 1993 as a vice president. He had been president of the National Low-Income Housing Coalition and executive secretary of Low-Income Housing Information Services.

In the press release, Mr. Johnson said that Mr. Zigas had brought "a dimension of creativity, as well as intellectual integrity" to Fannie Mae.

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