Fannie loses three execs

Fannie Mae has announced some management changes to better support the failing company. Fannie’s chief financial officer, Stephen Swad, was replaced; chief business officer Robert Levin is retiring and chief risk officer Enrico Dallavecchia is stepping down. Fannie and Freddie Mac have lost more than 90 percent of their market capitalization since January, and the federal Treasury Department might have to rescue the company.