Fannie Mae Appoints Peter Akwaboah Acting CEO Amid Board Restructuring

Fannie Mae has appointed Peter Akwaboah, previously its Chief Operating Officer, as acting CEO following the departure of Priscilla Almodovar, who had served since December 2022. This leadership change is part of a broader restructuring overseen by Federal Housing Finance Agency Director Bill Pulte, who has also promoted John Roscoe and Brandon Hamara to co-presidents, strengthening the company's executive team. Hamara, recently appointed to Fannie Mae's board, brings experience from Tri Pointe Homes and Freddie Mac, reflecting a focus on revitalizing homebuilding efforts. Pulte praised the new leadership lineup as positioning Fannie Mae for a safer, sounder future while continuing growth as a Fortune 25 company. These shifts come amid considerations by the Trump administration to potentially sell shares of Fannie Mae and Freddie Mac, which have been under government control since the 2008 financial crisis. Despite some financial challenges, including slight revenue decline and significant debt, Fannie Mae remains a key player in the secondary mortgage market, focusing on single-family and multifamily loans.