Hugh R. Frater Named Fannie Mae CEO

Mar 27, 2019

Fannie Mae has named Interim CEO Hugh R. Frater as its new CEO, effective today.

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.”

About the author

Phil Hall

Link copied

Published

Mar 27, 2019

Analysis and Data

High Home Prices Not Translating To Higher Seller Profits

Average profit margins decline for second year in a row, with Florida sellers hit hardest

According to ATTOM’s Year-End Home Sales report, 2024 marked the second consecutive year of declining home sale profits, falling to 53.8% in 2024 from 56.9% in 2023. Median seller profit for 2024 was $122,500 per home sale. Although an average of $122,500 is nothing to s...

People On The Move

Andy Ward Joins Guaranteed Rate Affinity As Originating Manager

Ward touts the company's access to more than 2,000 mortgage programs

Guaranteed Rate Affinity, exclusive partner to Coldwell Banker, today announced that Andy Ward has joined the company as an Originating Manager in Cottleville, Missouri. Ward brings 25 years of experience in the mortgage business to the role. "Andy is a great addition to ...