Fannie Mae has recently reshuffled 14 of its vice president positions, appointing 12 new vice presidents and two new senior vice presidents. Among them include Martin P. Colburn as the senior vice president of the company's technology management center and William F. Farrell as the senior vice president of portfolio and financial technologies.
Freddie Mac last week announced the appointment of Darrell Ramsey as vice president of information technology. In this position, Ramsey will direct the development and implementation of information systems strategies and services for the company's corporate finance division.
AEW Capital Management LP, a Boston-based real estate investment firm, has announced the formation of AEW Targeted Securities Fund II LP, an investment partnership that will make private placement investments in publicly held real estate investment trusts and other real estate companies. The fund has an initial capitalization of $195 million, with investor co-investment rights that bring the fund's total available capital to $295 million. The fund will be managed by AEW on behalf of institutional investors.
The National Association of Realtors has selected a new president. Dennis R. Cronk, a broker and owner with the firm of Waldvogel, Poe and Cronk Real Estate Group Inc., is replacing outgoing president Sharon Millet. Cronk has 25 years of real estate experience, and works on commercial, industrial and residential products. He has been an NAR director since 1981.
Standard & Poor's has issued a report stating servicing matters for issuers, such as investor reporting, loss mitigation and payment disposition, are as equally important as origination.