Career moves

Hugh Frater loses the "interim" title, taking full control of the government-sponsored enterprise as Congress begins debating (again) the future of Fannie as well as Freddie Mac.

David Brickman will take the helm of the mortgage giant at a time of transformation in the mortgage market and housing finance policy.

The secretary of housing and urban development plans to "finish out this term" but wants to return to "the private sector because I think you have just as much influence, maybe more."

Liquidity, products and pricing are the main concerns for the secondary mortgage market in 2019.

The White House said that Comptroller of the Currency Joseph Otting will serve as acting director of the Federal Housing Finance Agency beginning Jan. 6, after Director Mel Watt’s term ends.

RBC Capital Markets hired Paul Sheldon, founder of the advisory firm S L Capital Strategies, as a managing director in the municipal finance student loan group.

Donald Layton, who has run the mortgage giant since 2012, discussed the busy agenda leading up to his departure and says Freddie can serve as a "technical adviser" in GSE reform talks.

The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.

Whereas most regulators appointed in the Trump administration are focused on rolling back the post-crisis framework, Nellie Liang helped create it.

Freddie Mac is promoting Executive Vice President David Brickman to president and will consider him among possible candidates to be the agency's next CEO after Don Layton retires next year.

Weilamann was previously managing director and head of U.S. ABS at the credit rating agency; he assumes his new role as Luis Reyna returns to academia.

Jeff Weinstein and Patrick Lampe join from the Chicago office of Sidley Austin; Morgan Lewis partner Philip Russell is relocating from the firm’s New York office.

Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.

The former Kirkland & Ellis partner will remain in Chicago, where he has performed work for clients in automotive finance, technology, banking and marketplace lending.

Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.

Ron Faris plans to retire as head of Ocwen Financial and pass on his position to former PHH Corp. CEO Glen Messina around the time Ocwen acquires PHH.

No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors.

The online lender is hiring Kenneth Brause, a CIT Group executive, to succeed CFO Howard Katzenberg.

Grow was previously director of MBS and ABS securities; he replaces VIckie Tillman, who retired in December after overseeing the company's expansion into a diversified credit rating agency.

Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.