Fannie VP of REO resigns
Tiffany Davis-Fletcher resigned from her position as vice president of the Fannie Mae REO sales credit division this week. Davis-Fletcher was responsible for managing credit losses through the marketing of recently foreclosed property held by the government-sponsored enterprise. She joined Fannie Mae in 1997 and held director and sales manager roles within the REO sales team in Dallas. Davis-Fletcher also held positions at Countrywide Financial, Savings of America and Lomas Mortgage. Fannie holds 153,000 REO in its inventory, according to first-quarter financial reports, and that number is growing as one of the company's most experienced REO executives leaves. One year ago, Fannie held 109,989 REO. While sources confirmed the resignation, the reason and destination of Davis-Fletcher's move weren't immediately available. Write to Jon Prior. Follow him on Twitter @JonAPrior.