WASHINGTON — Washingtonpost.com reported that former AOL executive Stephen Swad has become the new chief financial officer at government-sponsored mortgage finance company Fannie Mae. Fannie Mae, the largest buyer and guarantor of home mortgages in the United States is in the midst of turmoil resulting from an accounting scandal and the high rate of foreclosures in the sub-prime lending market, which dropped its profit 36% in 2006 and continues to adversely affect the company. Besides having experience as the CFO of AOL, Swad was a partner at accounting giant KPMG, as well as deputy chief accountant at the Securities and Exchange Commission. Read more.
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