Stuart A. McFarland is now executive vice president and chief planning officer at the Federal National Mortgage Association. The title was incorrectly noted in Monday's Washington Business.

Stuart A. McFarland is the new executive vice president and chief operating officer of the Federal National Mortgage Association, it was announced last week.

McFarland, who had served as FNMA executive vice president for operations since joining the corporation 18 months ago, succeeds David deWilde, who has resigned.

McFarland will be responsible for developing long-range and strategic policy related to all of FNMA's secondary mortgage activities. He will also oversee several administrative functions, including the corporation's data processing activities.

Other recent FNMA management appointments announced last week:

* Jeffrey A. Lebowitz as vice president for strategic planning. Lebowitz came to Fannie Mae from the Chase Manhattan Corp., where he was vice president of strategic planning for international retail banking.

* James P. McMann as vice president and deputy general counsel, a new position. McMann has been with Fannie Mae since 1970, most recently as associate general counsel.

* Edward L. Middleton to the new position of vice president for mortgage administration. Middleton has been with the corporation for 12 years, most recently as director of mortgage operations systems.

* Allen C. Sell as vice president for the fiscal office, also a new position. Sell, who has been director of Fannie Mae's fiscal office, has also worked with the government bond division of Smith, Barney & Upham.

The Federal National Mortgage Association -- the largest buyer of home mortgages -- is a federally chartered shareholder-owned corporation. FNMA purchases mortgage loans from local lenders, thereby replenishing those institutions' supply of mortgage money.