Fannie Mae Says Operating Chief Edwards to Step Down Next Year

Fannie Mae, the largest source of funding for U.S. mortgages, said Chief Operating Officer Terence Edwards plans to leave the government-backed company in the first half of next year.

His duties overseeing credit-portfolio management and the work on a common securitization platform have already been turned over to other managers, Washington-based Fannie Mae said today in a regulatory filing.

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