Fannie Mae plans to put in place a new head of its single-family mortgage business on June 1 ahead of a retirement set to take place at the end of the month.

The government-sponsored enterprise said Karen Pallotta, Fannie's senior vice president, product acquisition strategy and support, is slated to take the post at that time.

Thomas A. Lund, executive vice president, single-family mortgage business, plans to retire from the company on June 30.

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