Fannie Mae CEO steps down

Williams to leave agency once replacement is found

Michael Williams, chief executive of US government-backed mortgage lender Fannie Mae, has announced he will step down from the role once a replacement has been chosen.

Williams became CEO in 2009, seven months after the agency – and its fellow government-backed lender Freddie Mac – were nationalised after accumulating $1.6 trillion of debt over a 12-month period. Fannie Mae's total losses from 2008 to the end of the third quarter of 2011 now stand at $137 billion.

Williams joined Fannie Mae in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here