New Fannie Mae CEO Could Signal Future of Housing Market

With Fannie Mae CEO Michael Williams on the way out, it's unclear who will step in to lead the government-sponsored enterprise.

Whoever is chosen to replace Williams (pictured at left), and for what reason, could signal the direction of the mortgage giant, be it a strong future, or a short-lived wind-down.

"That's the real question of the day," said David Stevens, president and CEO of the Mortgage Bankers Association. "Depending on whom you're hiring sends a strong message about where this institution is headed, and it also sends a strong message to the employees working in that company.

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