I support the orderly leadership transition announced earlier today by the Fannie Mae Board of Directors. These changes will assure the continuity and stability necessary for meeting their mission responsibilities in a safe and sound manner.
Fannie Mae will continue to thrive under the experienced leadership team of Mike Heid as Chairman of the Board, Diane Nordin as Vice Chairman, and Dave Benson as Interim CEO in addition to his current duties as President. Their deep knowledge of the GSEs and the broader mortgage system will ensure Fannie Mae continues to deliver solutions in response to the challenges facing borrowers in today's mortgage market.
Sheila Bair, Hugh Frater, and Antony Jenkins demonstrated leadership and commitment to Fannie Mae throughout their tenure on the Board. They exemplify the best in public service, and I am deeply thankful their collective efforts have made Fannie Mae financially stronger and better able to serve borrowers through these unprecedented times. I wish them well in their future endeavors.
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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $7.3 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter, @FHFA, YouTube, Facebook, and LinkedIn.
Contacts:
Adam Russell Adam.Russell@FHFA.gov