BUSINESS PEOPLE; President Resigns Post at Fannie Mae

In a prepared statement, David O. Maxwell, the chairman and chief executive of Fannie Mae, said yesterday that Mr. [Mark J. Riedy] had received inquiries about his availability for ''other business opportunities.'' In announcing Mr. Riedy's resignation, Mr. Maxwell cited Mr....

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Bibliographic Details
Published inThe New York times
Main Author Cuff, Dee Wedemeyer and Daniel F.
Format Newspaper Article
LanguageEnglish
Published New York, N.Y New York Times Company 16.07.1986
EditionLate Edition (East Coast)
Subjects
CUFF, DANIEL F
REIDY, MARK J
SUSPENSIONS, DISMISSALS AND RESIGNATIONS
WEDEMEYER, DEE
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Summary:In a prepared statement, David O. Maxwell, the chairman and chief executive of Fannie Mae, said yesterday that Mr. [Mark J. Riedy] had received inquiries about his availability for ''other business opportunities.'' In announcing Mr. Riedy's resignation, Mr. Maxwell cited Mr. Riedy for his ''significant contributions in improving Fannie Mae's operating results.'' Fannie Mae's turnaround has been attributed to the reduction in interest rates; the introduction of new strategies, including the mortgage-backed security program; a better match of the duration of Fannie Mae's assets and liabilities, and the purchase of shorter-term assets, such as adjustable-rate mortgages, second mortgages and 15-year mortgages.
ISSN:0362-4331