WASHINGTON, Feb. 26 /PRNewswire-FirstCall/ -- Fannie Mae today named Douglas G. Duncan Vice President and Chief Economist. Duncan will lead Fannie Mae's Economics and Mortgage Market Analysis Department within the company's Business Strategy Group.
Duncan comes to Fannie Mae from the Mortgage Bankers Association (MBA), where he has served as Senior Vice President and Chief Economist since 2000. In that senior leadership role, Duncan served as a primary spokesperson on economic and mortgage market developments and performance for the MBA, a trade group representing 3,000 companies that make the majority of all residential, multifamily and commercial real estate loans in the U.S.
Prior to joining the MBA in 1992, Duncan worked on Capitol Hill as a LEGIS Fellow and staff member on the Committee on Banking, Finance and Urban Affairs, and at the U.S. Department of Agriculture's Economic Research Service. He has been elected to the Board of Directors for the National Association of Business Economists and has been listed in the "Top 100 Most Influential People in Real Estate" by Inman News. Duncan received his Ph. D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.
"We're very pleased to have someone of Doug's stature join our team," said Daniel H. Mudd, President and Chief Executive Officer. "Doug's deep background in mortgage and housing market research, his impressive economic analysis credentials, and senior leadership experience are the perfect fit for his new role. His counsel and scholarship will be important assets for the company as we strive to bring stability, liquidity and affordability to the turbulent housing and mortgage markets. I also hope that, given Doug's role at the MBA, he will provide us with critical insights so that we can better serve our partners and customers in the years ahead."
As Chief Economist at Fannie Mae, Duncan will be responsible for providing all forecasts and analyses on the economy, housing and mortgage markets for the company, and will work with the rest of the company's Business Strategy Group to provide insights regarding external business dynamics and the broader economic environment. He will provide regular economic commentary and serve as a primary spokesperson on the economy and the housing and mortgage markets for the company. Duncan will join the company in April.
"Leaving MBA after 15 years is a tough decision given its prominence and influential position in the industry," Duncan said. "However, the opportunity at Fannie Mae is to join another influential firm at a critical time in the real estate finance markets. I look forward to making a positive contribution to the ability of Fannie Mae to support the housing markets."
Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. In 2008, we mark our 70th year of service to America's housing market. Our job is to help to those who house America.
