Doug Duncan,
The news was first reported
"We deeply appreciate Doug's strong leadership and thank him for his many contributions to Fannie Mae and the larger housing and financial services industry," the unnamed Fannie Mae spokesperson said in a statement. "Under his leadership, Fannie Mae's Economic and Strategic Research (ESR) Group won multiple forecast awards, including most recently the 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy."
Duncan has been a leading commentator on trends in the mortgage industry for over 30 years.
He received his Ph.D. in 1989 from Texas A&M and then went to work as an economist at the U.S. Department of Agriculture, according to
After leaving the USDA, Duncan was accepted by the Brookings Institution's fellows program and was serving on the staff of the House Committee on Banking, Finance and Urban Affairs.
In September 1992, Duncan joined the Mortgage Bankers Association as an economist, rising through the ranks to become director of research. He moved up to be
Then in April 2008, Duncan moved into his current position as Fannie Mae's chief economist. When the move was announced in February of that year, then-MBA president and chief executive Jonathan Kempner said, "Over the past 15 years, Doug has built a smart and talented team that has driven MBA's growth and success in the data and research field," and his expertise and counsel would be "sorely missed."
Mark Palim, currently the deputy chief economist, will be moving into the top position, effective Sept. 23. He has been with Fannie Mae since December 2009, and moved into his current role in July 2016, according to his LinkedIn profile.
Palim is "a well-known and highly regarded economist with decades of experience," the Fannie Mae spokesperson added.
Duncan is assisting with the transition and will leave Fannie Mae as of Dec. 27.
