WASHINGTON, June 9, 2016 /PRNewswire/ -- Fannie Mae (OTC
Bulletin Board: FNMA) recently announced that Hugh R. Frater, Renee L.
Glover, and Michael J. Heid have been elected to the Board of Directors. These three new
Directors are recognized industry leaders with deep and diverse housing finance expertise. The new Directors join other similarly
accomplished individuals on a Board of Directors that will help guide Fannie Mae in its drive to be America's most valued housing
partner.
"We are thrilled to add these seasoned executives to the Fannie Mae Board of Directors," said Egbert
L.J. Perry, chairman of the Board. "These three leaders bring to the Board a combination of deep experience and knowledge
about the mortgage business, stature and influence in the housing finance industry, and immense respect in affordable housing
circles. Fannie Mae will benefit greatly from their keen insights and perspective as the company delivers on its mission to
provide safe, affordable mortgage financing."
"Mike, Renee, and Hugh are terrific additions to the Board at a time of important change to the company and housing finance,"
said Timothy J. Mayopoulos, president and chief executive officer. "I very much appreciate having
the benefit of their experience and knowledge as we continue to focus on improving the company, serving customers, and
strengthening America's housing finance system."
Mr. Heid recently retired as president of Wells Fargo Home Mortgage, the largest originator of single-family mortgages in the
United States. Mr. Heid spent 28 years at Wells Fargo where he served in a number of executive positions in the mortgage
banking division. In addition to serving as president of Wells Fargo Home Mortgage, he was executive vice president of Wells
Fargo Home Lending, and co-president, chief financial officer, and head of Loan Servicing. He was chairman of the Lending and
Leasing Committee of the Financial Services Roundtable and served on the Board of Directors of the Mortgage Bankers
Association.
Mr. Frater previously served as chairman and chief executive officer of Berkadia Commercial Mortgage, one of the nation's
largest multifamily lenders, providing comprehensive capital solutions and services for multifamily and commercial properties.
Mr. Frater also served as chief operating officer of Good Energies, Inc., executive vice president at PNC Financial
Services, where he led the real estate division, and was a founding partner and managing director of BlackRock, Inc., the world's
largest investment manager, where he led the real estate practice. In addition to the Fannie Mae Board, Mr. Frater serves as
Non-Executive Chairman of the Board of VEREIT, Inc. and as a director of ABR Reinsurance Capital Holdings, Ltd.
Ms. Glover is the Founder and Managing Member of The Catalyst Group, LLC, a national consulting firm focused on urban
revitalization, real estate development and community building, urban policy, and business transformation. Ms. Glover previously
served as president and chief executive officer of the Atlanta Housing Authority and its affiliates. She serves as a member
of the Enterprise Community Partners Board of Directors, one of the largest nonprofit affordable housing and community
development organizations in the country, and has served on the Board of Directors for Habitat for Humanity International, as a
member of the Board of Directors of the Federal Reserve Bank of Atlanta, and as a Commissioner
of the Bipartisan Policy Center Housing Commission.
Fannie Mae is a $3 trillion financial services institution that owns or guarantees approximately
30 percent of U.S. residential mortgages. Since 2009, Fannie Mae has provided $5 trillion in
financing to keep America's mortgage market up and running, helped keep families in their homes by preventing 1.9 million
foreclosures, and helped homeowners save money through 4.4 million Refi Plus refinancings, all while making significant strides
in improving the company and the housing finance industry. The company returned to profitability in 2012 and has sent
$148 billion in dividends to taxpayers, approximately $32 billion
more than it received in support.
Fannie Mae enables people to buy, refinance, or rent homes.
Visit us at: http://www.fanniemae.com/progress
Follow us on Twitter: http://twitter.com/FannieMae
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fannie-mae-names-three-housing-finance-veterans-to-board-of-directors-300282554.html
SOURCE Fannie Mae