|News Release||Farm Credit Administration|
1501 Farm Credit Drive
McLean, Virginia 22102-5090
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For Immediate Release
NR 10-17 (09-28-10)
Contact: Mike Stokke or Christine Quinn, 703-883-4056
Dan Fennewald Named Acting Director of Office of Secondary Market Oversight
McLEAN, Va., September 28, 2010 — The Farm Credit Administration (FCA) today announced the selection of Dan Fennewald as the Acting Director of the Office of Secondary Market Oversight (OSMO). He succeeds S. Robert Coleman who recently was named Chief Examiner and Director of the Office of Examination at FCA.
As Acting Director of OSMO, Mr. Fennewald will be responsible for the regulatory oversight, examination, and supervision of the Federal Agricultural Mortgage Corporation (Farmer Mac). Farmer Mac was created by Congress to establish a secondary market for agricultural real estate and rural housing mortgage loans.
“Dan has extensive experience in working with Farmer Mac. We know that he will capably carry out the responsibilities while a search is conducted for a permanent director,” said FCA Chairman and CEO Leland A. Strom.
Mr. Fennewald is a Martinsburg, Mo., native who graduated summa cum laude from the University of Missouri–Columbia with a bachelor’s degree in agricultural economics. He joined FCA’s Office of Examination in August 1987 as an examiner and was commissioned in February 1991. He became a certified Capital Markets Specialist in June 2000, and has served as the examiner-in-charge for Farmer Mac since November 2005. Since March 2007, Mr. Fennewald has served as associate director for examination and supervision in OSMO. He and his wife, Amy, have three children and live in Lakeville, Minn.
The vacancy announcement for the Director of OSMO was issued September 22 and closes October 21. It is available on the USAJobs website.
The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System and the Federal Agricultural Mortgage Corporation (Farmer Mac). FCA charters, regulates, and examines the 99 banks, associations, and service corporations of the Farm Credit System, which makes loans to agricultural producers and their cooperatives nationwide. FCA also examines and regulates Farmer Mac, which provides a secondary market for agricultural real estate loans, rural housing mortgage loans, and certain rural utility loans. Members of the FCA Board are Leland A. Strom, Chairman and CEO; Kenneth A. Spearman; and Jill Long Thompson.
Note: FCA news releases are available on the Web at www.fca.gov.