Sheehy Leaving Freddie

Pat Sheehy, a senior vice president in charge of national sales at Freddie Mac, is leaving the secondary market giant, sources have told MortgageWire. A spokesman for Freddie Mac confirmed his departure, noting that May 2 was scheduled to be Mr. Sheehy's last day. Mr. Sheehy is leaving the company after three years to join Molton, Allen & Williams Corp., a commercial mortgage banking firm based in Birmingham, Ala. In related news, Fannie Mae's chief of government affairs and industry relations, William Maloni, is stepping down, but will remain as a "senior adviser" to the company. A source close to Mr. Maloni said the move means that "Bill is really retiring." (Mr. Maloni has been SVP of government relations since 1989.) The change paves the way for Duane Duncan to take over as Fannie's new chief of government and industry relations. A former top staffer to Rep. Richard Baker, R-La., who chairs a House GSE subcommittee, Mr. Duncan joined Fannie Mae in 1995.