Both Fannie Mae and Freddie Mac have hired financial advisors to help recapitalize during their exits from conservatorship. Fannie Mae has chosen Morgan Stanley and Freddie Mac has chosen J.P. Morgan, according to separate announcements from each GSE.
Morgan Stanley will be responsible for working with Fannie Mae, the U.S. Treasury and the Federal Housing Finance Administration to consider business and capital structures, market impacts and timing, and available capital raising alternatives and more.
"As we continue to stand behind our partners and support homeowners and renters through today's challenges, we remain focused on ensuring our company is best-prepared to serve the market’s future needs," said Hugh R. Frater, Chief Executive Officer of Fannie Mae, according to a press release.
J.P. Morgan will provide similar counsel for Freddie Mac and help the company make its exit from conservatorship.
"We look forward to working with J.P. Morgan to continue meeting the milestones necessary to begin our new chapter as soon as possible," said David Brickman, Freddie Mac CEO according to a press release. "At the same time, our focus on supporting borrowers, renters and lenders in the face of COVID-19 is stronger than ever."
Walker formerly served as Chief Financial Officer at Mortgage Assets Management, LLC, and Supreme Lending.
Planet Home Lending has hired Paul Walker to be its Chief Financial Officer as of May 7. Walker's two decades of mortgage banking finance expertise include being CFO at both Supreme Lending and Mortgage Assets Management, LLC.
"Paul will guide our financial strategy, lead...
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