Director James Lockhart of the Federal Housing Finance Agency (FHFA) has appointed FHFA as conservator of Fannie Mae. FHFA also appointed a new president and chief executive officer for the company, Herbert M. Allison, Jr. In addition, the U.S. Department of the Treasury has agreed to provide capital as needed to ensure the company continues to provide liquidity to the housing and mortgage markets.
See the statements of September 7, 2008, by the U.S. Treasury Department and FHFA.
