A dozen or so upper-level Fannie Mae employees were dismissed last week, according to various media sources, including the Wall Street Journal. All of the departures were said to be involuntary, with AI proficiency cited as a possible cause. The eliminated roles included core areas such as multifamily lending, capital markets, finance and regulatory affairs.
Mortgage media company Scotsman Guide said that a source with direct knowledge of the situation confirmed that the employees were based in the company’s Washington, D.C., headquarters. Among those Scotsman Guide indicated were let go included Mark Palim, chief economist for Fannie Mae since September 2024; Chuck Walker, chief operating officer of Fannie’s multifamily business; Devang Doshi, senior vice president of capital markets; Brian Hansen, chief financial officer of Fannie’s multifamily business; and Dana Brown, vice president of low-income housing tax credit customer management.
Last year, Fannie Mae fired over 100 employees, citing fraud, including mortgage fraud, against the company. Many of those employees later sued Fannie Mae, seeking reinstatement, back pay and other financial relief in a lawsuit against the government-sponsored enterprise.
