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Fannie Mae Names Frater CEO

Fannie Mae has appointed Hugh R. Frater as chief executive officer, with responsibility for setting the vision and strategic direction of the company. In addition to his role as CEO, Frater, who was interim CEO since the fall, remains on the board.

[caption id="attachment_11329" align="alignleft" width="149"]Fannie Mae has appointed Hugh R. Frater as CEO Hugh Frater[/caption]

"Hugh's deep understanding of the housing and the financial services industries, broad experience, and strong leadership skills make him an ideal choice to lead Fannie Mae," said Jonathan Plutzik, chair of Fannie Mae's board. "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. 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."

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"I am honored with this opportunity to lead Fannie Mae and to play a part in the company's important contributions to the housing finance system," said Frater. "The Fannie Mae of today is customer focused, innovative, and committed to leading a housing finance system that is safe, sound, and sustainable for taxpayers and creditworthy borrowers of all income levels,” said Frater. ”I look forward to continuing to working with this outstanding leadership team to deliver on Fannie Mae's strategic priorities and transform the mortgage experience for our customers and partners."

Frater served as Fannie Mae's Interim CEO since October and he’s been on the board since 2016. He has held a number of executive and management roles throughout his career. Frater serves as non-executive chairman of the board at Vereit Inc. Also, he led Berkadia Commercial Mortgage LLC, a national commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.

He served as chairman of Berkadia from April 2014 to December 2015 and as chief executive officer of of the company between 2010 and April 2014. Earlier in his career, Frater was an executive vice president at PNC Financial Services, where he led the real estate division, and was a founding partner and managing director of BlackRock Inc.

 

 

 

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