January 23, 2009

Fannie Mae Laying Off Hundreds

According to The Washington Post: “Fannie Mae, the District mortgage giant taken over by the federal government last year, is laying off several hundred employees locally as it reorients itself to focusing on preventing home foreclosures.

Starting today, the layoffs will be concentrated among employees working in technology, administration, communications and the company’s single-family unit, which works to buy and bundle mortgages from lenders.
Fannie plans to hire a similar number of people in the Dallas area, where the company bases its anti-foreclosure unit. ”

Brian Faith, “a company spokesman said the total number of Fannie employees should remain the same in 2009 as in 2008, at just over 5,500.”

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