News From the World Wide Web

Pulte makes sweeping changes to boards of GSEs by Chris Clow for HousingWire

HousingWireHousingWire

Not wasting any time following his Senate confirmation last week, Federal Housing Finance Agency (FHFA) Director Bill Pulte made a series of major changes to the boards of government-sponsored enterprises Fannie Mae and Freddie Mac according to filings with the Securities and Exchange Commission (SEC). The news was first reported by Inside Mortgage Finance.

Based on the SEC filings, the Freddie Mac board removals included six members including board chair Lance Drummond, and Jane Prokop, who joined the board on Jan. 7. Pulte installed himself as board chair, who joins the board alongside Brandon Hamara, Clinton Jones and Ralph “Cody” Kittle.

At Fannie Mae, eight members were removed but CEO Priscilla Almodovar will remain onboard, as will existing members Renée Lewis Glover, Karin Kimbrough, Manuel Sánchez Rodríguez and Scott Stowell. Michael Heid, the former chair, has been removed. The new appointees include Clinton Jones, Christopher Stanley (of Elon Musk’s SpaceX) and Michael Stucky. Pulte will also serve as chair of Fannie Mae’s board.

“Freddie Mac will provide information regarding any related party transactions and the new directors’ committee assignments as they become known,” the Freddie filing said, while for Fannie the board has yet to finalize any board assignments for the new members.

This is a developing story.

FromAround TheWWW

A curated News Feed from Around the Web dedicated to Real Estate and New Hampshire. This is an automated feed, and the opinions expressed in this feed do not necessarily reflect those of stevebargdill.com.

stevebargdill.com does not offer financial or legal guidance. Opinions expressed by individual authors do not necessarily reflect those of stevebargdill.com. All content, including opinions and services, is informational only, does not guarantee results, and does not constitute an agreement for services. Always seek the guidance of a licensed and reputable financial professional who understands your unique situation before making any financial or legal decisons. Your finacial and legal well-being is important, and professional advince can provide the support and epertise needed to make informed and responsible choices. Any financial decisons or actions taken based on the content of this post are at the sole discretion and risk of the reader.

Leave a Reply