According to the newspaper, Watt – a former Democratic Congressman from North Carolina – is under investigation for alleged sexual harassment of an employee.
Fannie Mae recently announced plans to simplify its private mortgage insurance cancellation policy. In a letter that went out to lenders last week, the government-sponsored enterprise updated the different methods for verifying current property values.
Fannie’s board soon will begin its search for a new CEO – a position that will need the blessing of its largest shareholder, the U.S. Treasury Department.