Lender also extends term limit of one of its board members
Fannie Mae has expanded its board of directors with two new additions.
Joining the firm are Simon Johnson and Christopher Brummer. Fannie Mae has also announced that it is extending Robert Herz’s board term limit for another three years, allowing him to serve on the board through June 2024.
“We’re pleased to welcome both Simon and Christopher to Fannie Mae’s board of directors,” said Sheila Bair, chairwoman of the board at Fannie Mae. “They are proven public policy leaders adding noteworthy financial technology, economic, and regulatory experience to our exceptional board. I also want to thank Bob Herz for his continued service on our board and the benefit of his counsel and audit expertise as we collectively guide Fannie Mae in its drive to create a stronger, more stable housing market.”
For the past 24 years, Johnson has served as a professor at the MIT Sloan School of Management. He is also the Ronald A. Kurtz professor of entrepreneurship and head of the Global Economics and Management Group at the MIT Sloan School of Management.
Meanwhile, Brummer currently serves as the faculty director of the Institute of International Economic Law and Agnes N. Williams Professor of Law at the Georgetown University Law Center, where he started teaching in 2009. Before that, he was an assistant professor of law at Vanderbilt Law School from 2006 to 2009 and an academic fellow at the Securities and Exchange Commission’s Office of International Affairs from 2008 to 2009.
“Simon and Christopher bring deep economic, regulatory, and business expertise, enhancing our already talented and diverse Board and providing unique and valuable insights to Fannie Mae as we continue advancing our mission to sustainably serve homeowners and renters by providing liquidity to the residential mortgage market through all market cycles,” said Fannie Mae CEO Hugh Frater.
