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Fannie Mae's chief executive officer has announced he will step down from his role as soon as a successor is found.
According to an article in The Huffington Post, Michael Williams was appointed to lead Fannie Mae in 2009 after the federal government seized the company.
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The government rescued Fannie Mae and Freddie Mac after the two mortgage firms suffered huge losses on risky loans that threatened to ruin them.
Together, the companies own or guarantee about half of all U.S. home mortgages.
