By Katherine Hamilton
The Federal Housing Finance Agency has shaken up Fannie Mae's board, putting its own director at the head.
The FHFA on Monday removed eight members from the board of the Federal National Mortgage Association, known as Fannie Mae, which buys mortgages from large commercial banks. It also added four new ones, including newly appointed FHFA Director William Pulte. The changes are effective Monday.
Pulte was sworn in as the new FHFA director on Friday after being appointed by President Donald Trump. He will serve as chairman of Fannie Mae's board, according to a Monday filing with the Securities and Exchange Commission. FHFA General Counsel Clinton Jones was also added to the board, along with Christopher Stanley and Michael Stucky.
Those removed from the board are Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig. Five members are staying on the board.
The new directors' terms last until the next annual election of board members or the date on which they resign or are removed by the FHFA.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 17, 2025 17:35 ET (21:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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