Welcome to DSNews.com—delivering stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Mon May 21, 2012
Fannie Mae, one of the largest government-sponsored enterprises, announced it expects staff reductions by the end of the year involving several hundred full-time employees and contractors.
The company said the layoffs are part of an overall effort to reduce operating expenses and maximize productivity on behalf of shareholders and customers.
“Our objective is to bring costs in line following a period of significant increases in overall administrative expenses as the company completed its restatement and made critical investments in financial systems, risk management, and internal controls,” Fannie Mae said in a press statement.
Do you have a news tip, story idea, or suggestion for DSNews.com or DS News magazine?
Simply e-mail editor@dsnews.com.
Whether you choose to tell us a little about yourself or prefer anonymity, we appreciate your contribution!
