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Fannie Mae adds three executives to board of directors

New directors bring extensive experience to Fannie Mae

Fannie Mae recently announced the addition of three executives to the Board of Directors, Hugh Frater, Renee Glover and Michael Heid.

“We are thrilled to add these seasoned executives to the Fannie Mae Board of Directors,” chairman of the Board Egbert Perry said. “These three leaders bring to the Board a combination of deep experience and knowledge about the mortgage business, stature and influence in the housing finance industry, and immense respect in affordable housing circles.”

Most recently, Heid retired as president of Wells Fargo Home Mortgage, where he spent 28 years and served in several different executive positions in the mortgage banking division. Additionally, he was executive vice president of Wells Fargo Home Lending and co-president, chief financial officer and head of loan servicing. He was also the chairman of the Lending and Leasing committee of the Financial Services Roundtable and served on the Board of Directors of the Mortgage Bankers Association.

Previously, Frater served as chairman and CEO of Berkadia Commercial Mortgage. He also served as chief operating officer of Good Energies, executive vice president of PNC Financial Services, where he lead the real estate division, and founding partner and managing director of BlackRock. In addition to serving on Fannie Mae’s board, he also serves as non-executive chairman of the Board of VEREIT, and as a director of ABR Reinsurance Capital Holdings.

Glover is the founder and managing member of The Catalyst Group, a national consulting firm. Previously, she served as president and CEO of the Atlanta Housing Authority and its affiliates. Glover currently serves as a member of the Enterprise Community Partners Board of Directors, one of the largest nonprofit affordable housing and community development organizations. She has served on the Board of Directors for Habitat for Humanity International, as a member of the the Board of Directors of the Federal Reserve Bank of Atlanta and as a commissioner of the Bipartisan Policy Center Housing Commission. 

Glover was also one of HousingWire's 2015 Women of Influence. Women of Influence for 2016 are now closed, and winners will be announced in HousingWire's August issue. 

“Mike, Renee, and Hugh are terrific additions to the Board at a time of important change to the company and housing finance,” president and CEO Timothy Mayopoulos said. “I very much appreciate having the benefit of their experience and knowledge.”

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