New CEO Believes Fannie Mae Is Key To Housing Recovery

Law360, New York (June 6, 2012, 9:59 PM EDT) -- Timothy Mayopoulos, Fannie Mae's top lawyer who will become its next CEO, is a sharp legal mind who believes government-backed mortgage financing is crucial to rebuilding the nation's bruised housing market, former colleagues say.

Mayopoulos was promoted Tuesday to succeed Michael Williams, who said in January that he would step down. He becomes the lender's third CEO since 2008, when mounting mortgage losses forced a government rescue of Fannie and its smaller corporate cousin Freddie Mac.

Fixing Fannie Mae promises to be one of the most...
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