July 16, 1986
The Federal National Mortgage Assn. (Fannie Mae) announced that Mark J. Riedy has resigned as president and chief operating officer to explore other career opportunities. Fannie Mae, a congressionally chartered, shareholder-owned corporation, is the nation's largest single supplier of home mortgage funds. Before joining Fannie Mae in January, 1985, Riedy was executive vice president of the Mortgage Bankers Assn. of America. Fannie Mae Chairman and Chief Executive David O.
January 27, 1985
Warren Lasko, executive vice president of the Government National Mortgage Assn. has been named executive vice president of the Mortgage Bankers Assn. of America and will assume his new position on Feb. 9. He succeed Dr. Mark J. Riedy who became president of the Federal National Mortgage Assn. this month.
June 27, 1985 |
Mortgage rates, now at about 12%, will continue to decline, Housing and Urban Development Secretary Samuel R. Pierce Jr. said Wednesday. Speaking at a ceremony marking the placement of the 100,000th Government National Mortgage Assn. residential mortgage security pool, Pierce said: "I think they'll drop a bit more." He declined to say how much more. GNMA, which is a part of HUD, combines mortgages and sells them to investors to make more money available for home loans.
March 8, 1985 |
America's bankers are running out of money to lend home buyers and homes could become less affordable as a result, the president of the nation's largest single source of home mortgage money said today. Mark J. Riedy, president of the Federal National Mortgage Assn., said lenders must raise more money or ask for bigger down payments from home buyers "many of whom--especially first-timers--may not be in a position to meet those demands."
March 9, 1985 |
The president of the nation's largest single source of home loans warned Friday that housing will be less affordable for millions of Americans in the next few years because a rise in bad debts has forced mortgage lenders to demand bigger down payments and to tighten credit. Mark J. Riedy, president of the Federal National Mortgage Assn., known as Fannie Mae, said the measures may force many home buyers, especially first timers, "to borrow from parents or friends" or be forced out of the market.
September 9, 1986 |
Frank V. Cahouet, the former Crocker National chairman who lost his job when Wells Fargo bought the San Francisco banking company earlier this year, has been nominated to be president and chief operating officer of the Federal National Mortgage Assn. (Fannie Mae). Cahouet has a reputation in California banking circles as a tough, cost-conscious executive who was brought in by Crocker in 1984 to help stem a flood of red ink.