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 | Fannie Mae Press Release 9th December. Fannie Mae expands the American Dream, elects new Director."Looking for home mortgage finance? Try Mr Mortgage first for 100 percent home loans, 95 percent mortgage refinancing with debt consolidation and 95% lo doc mortgage loans and bad credit mortgages now."WASHINGTON, Dec. 9 Fannie Mae the nation's [USA] largest source of financing for home mortgages, today announced that the Board of Directors has elected John K. Wulff to join its Board to fill the unexpired term of Anne Mulcahy, who resigned in October. The Board has appointed him to the Audit and Compensation Committees. "We welcome John Wulff to our Board and look forward to benefiting from his expertise," said Ann McLaughlin Korologos, Chair of the Board's Nominating and Corporate Governance Committee. "John brings a solid base of corporate board experience and an interest in the mission of Fannie Mae." "John Wulff's background in finance and accounting and his knowledge of financial standards and reporting will benefit our Board, senior management and our company as a whole," said Franklin D. Raines, Fannie Mae's Chairman and Chief Executive Officer. Wulff is the non-executive Chairman of the Board of Hercules Incorporated, a manufacturer and supplier of specialty chemical products, a position he has held since December 2003. He was elected as a director of Hercules in July 2003, and served as Interim Chairman from October 2003 to December 2003. Wulff also was a member of the Financial Accounting Standards Board (FASB) from July 2001 until June 2003. From January 1996 until March 2001, he was the chief financial officer of Union Carbide Corporation. During his 14 years with Union Carbide, Mr. Wulff also served as vice president and principal accounting officer from January 1989 to December 1995, and controller from July 1987 to January 1989. From April 1977 until June 1987, Wulff was a partner with KPMG and predecessor firms. Wulff received a Bachelor of Science degree from the University of Pennsylvania in 1971, and became a Certified Public Accountant in 1974. In addition to serving on the board of Hercules Incorporated, he is a director of Sunoco, Inc. and Moody's Corporation.
Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae has pledged through its "American Dream Commitment" to expand access to homeownership for millions of first-time home buyers; help raise the minority homeownership rate to 55 percent; make homeownership and rental housing a success for millions of families at risk of losing their homes; and expand the supply of affordable housing where it is needed most. Since 1968, Fannie Mae has provided $6.3 trillion of mortgage financing for 63 million families. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "FNM." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae." Fannie Mae
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