Real estate investment trust Redwood Trust, Inc. [1], announced the addition of former Fannie Mae executive Karen R. Pallotta to the company's board of directors.
Pallotta spent more than two decades at Fannie Mae before her retirement in 2011. In her time there, she served in various leadership roles, including most recently as EVP of the mortgage giant's Single Family Credit Guaranty business, a position she took during the height of the crisis and subsequent to the company's government conservatorship.
"Karen brings the deep background and experience of a seasoned mortgage executive to our Board," said Richard D. Baum, chairman of Redwood Trust's board. "As Redwood continues to expand its residential mortgage banking business, Karen's strategic and operational experience will no doubt prove invaluable to the company's management, directors, and shareholders."