Fannie Mae has formally unveiled its new e-business effort by revealing its organizational structure, management team, and several key appointments.
Franklin D. Raines, Fannie's chairman and chief executive officer, said Monday that six senior executives have joined Michael Williams, who was named president of the unit in July.
The executives, all of whom report to Mr. Williams, are Vada Hill, chief marketing officer; David Voth, chief product development officer; Earl T. Booker, managing director of business development; Terri L. Davis, managing director of sales and consulting; Daniel Packer, managing director of systems development; and Harvey Trimble, managing director of eSolutions.
"I am delighted to have been able to assemble such a wide variety of talented individuals to lead this new division," said Mr. Williams. "Each of these individuals has contributed significantly to Fannie Mae's successful technology endeavors to date and will continue to contribute to our success."
Fannie Mae/eBusiness was launched in July as a separate business unit, focusing on helping lenders use the Internet to improve service. Fannie expects that the unit will bring in $450 billion of online business-to-business volume this year.
Other unit managers are David Coleman, managing director of business services; Michael Koch, managing director of marketing; and Peter Kopperman, managing director of business engagement.
Mr. Voth, Mr. Coleman, Mr. Koch, and Mr. Kopperman were promoted Monday.
As chief product development officer, Mr. Voth is to develop strategies and systems to offer Fannie Mae lender clients. He had most recently been Fannie's vice president for product development, responsible for pricing and product development in the single-family mortgage division.
Mr. Coleman, managing director of business services, is to oversee the design, construction, and deployment of the Fannie Mae/eBusiness mortgage system, MORNETPlus 2000. The system offers technology that allows for mortgage origination, underwriting, closing, and delivery of mortgages. He had been director of MORNETPlus.
As managing director of marketing, Mr. Koch is overseeing customer relationships, working with lenders to develop and build online mortgage systems and other products to fit their business models. He was most recently director of account management, marketing Fannie's technology products. He also played a crucial role in the release of Fannie's automated underwriting system, Desktop Underwriter, a spokeswoman said.
In his new post, Mr. Kopperman is to design online products for lenders' business-to-business and e-commerce efforts. He is working with lenders to help integrate Fannie's technology into their online systems, ranging from underwriting to delivery to the secondary market. He had most recently been director of corporate information services, where he developed and expanded throughout the company an innovative analysis and design tool, Rapid Consensus Workshop.
The division's management team also includes Richard McGhee, managing director of technology strategies; Charlotte Haberaecker, managing director of e-mortgage solutions; and Elizabeth Schamber, managing director of technology products.