Fannie Mae CFO likely to leave

Fannie Mae's board of directors has apparently decided that the company's chief financial officer will step down, according to the Wall Street Journal.

The newspaper reported today that a person familiar with the situation said the board met on Sunday and "appeared" to have decided that Timothy Howard will leave the embattled mortgage giant. Terms of his expected departure have not been settled, the Journal reported.

The Journal said no decision was made on the fate of CEO Franklin Raines.

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