Frater served as Fannie Mae’s Interim CEO since Oct. 16, after Timothy J. Mayopoulos resigned from the chief executive position. Frater, who has served on Fannie Mae’s Board of Directors since 2016, was previously CEO of Berkadia Commercial Mortgage LLC from 2010 to 2014 and chairman of Berkadia from April 2014 to December 2016. He also currently serves as Non-Executive Chairman of the Board of VEREIT Inc.
“Hugh’s contributions as Interim CEO over the last several months demonstrate his commitment to strengthening the company and delivering value to our customers and partners,” said Jonathan Plutzik, Chairman of Fannie Mae’s Board of Directors. “This appointment also provides continuity in Fannie Mae’s leadership team as we fulfill our mission to provide liquidity and support to the mortgage market.”