Rob Levin and Dan Dresser have departed from Fannie Mae's multifamily sector amid organizational changes led by Bill Pulte, who appointed Kelly Follain as the new head. These exits occur as the agency grapples with significant fraud claims, having set aside $752 million for probable losses. The internal emails suggest that the actual exposure could be much higher, particularly linked to eight sponsors involved in fraudulent activities. The leadership transition raises questions about the agency's future direction and operational stability during this tumultuous period.
Dresser and Levin's sudden exits occur at a challenging period for Fannie Mae's multifamily segment, which set aside a $752 million credit loss due to fraud.
Under the new head of the Federal Housing Finance Agency Bill Pulte, Fannie Mae and Freddie Mac have undergone a major shakeup, removing 14 board members.
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