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Knoxville Mayor Victor Ashe Named to Fannie Mae Board
First Mayor To Serve on Board

July 23, 2001


President George W. Bush has announced the appointment of Knoxville Mayor Victor Ashe, a Past President and current member of the Executive Committee of The U.S. Conference of Mayors, to the Board of Directors of Fannie Mae, the nation's largest source of financing for home mortgages. Ashe is the first mayor to serve on Fannie Mae's Board of Directors.

In commenting on this appointment, Conference of Mayors Executive Director J. Thomas Cochran said, "The U.S. Conference of Mayors has developed a strong working relationship with Fannie Mae, which we know will be greatly enhanced by this important appointment."

In his statement, Mayor Ashe said, "Fannie Mae has played a key role in reducing the price of home ownership for millions of Americans... As the first mayor to serve on the board, I believe that I can bring the local perspective to the Board about how important home ownership is to improving neighborhood conditions in cities across America."

"Affordable housing is a critical element of the city's efforts to make neighborhoods cleaner and safer for all citizens. From individual home renovations to larger scale projects like Hope VI and the Affordable Housing Trust Fund, Knoxville has made great progress in making sure most people have a safe roof over their heads every night," Ashe added.