Ann B. Schnare, whose research helped prompt Freddie Mac to revise underwriting guidelines that hurt minority lending, has been named vice president, housing economics at the company.
Schnare will direct research on economic factors affecting the availability of mortgage credit to low-and moderate-income households. She also will help Freddie Mac determine its housing policies, aid in developing programs, and speak for the company on housing economics and policy issues.
"Ann Schnare brings to Freddie Mac 20 years experience in designing and managing research on housing programs, and the operations of housing and mortgage markets," said John B. Gibbons, assisstant to the chairman, in a June 4 statement announcing the appointment.
Schnare comes to Freddie Mac from ICF Inc.. where she was a senior vice president and director in charge of managing the firm's housing and real estate practic.
"While at ICF, Schnare directed a study for Freddie Mac examining the impact of the secondary mortgage market on community lending," the Freddie Mac statement said. The study prompted a series of changes of Freddie Mac's underwriting guidelines designed to remove unnecessary barriers to the provision of credit to minority borrowers."