The iBuyer has appointed David Benson to its board of directors, effective immediately. Benson was Fannie Mae's president for six years, retiring from the role in May 2024
Fannie and Freddie remain profitable but are setting aside pots of money to cover future losses in the event that falling home prices drive up defaults
Wells Fargo veteran Michael Heid will succeed Sheila Bair as board chair as the mortgage giant conducts a national search for its next CEO. Its current CEO, Hugh Frater, is retiring