Fannie Mae on Friday announced the promotion of two long-time employees to lead its Single-Family business and general counsel’s office.
“We are pleased to announce the promotion of Fannie Mae seasoned veterans Jake Williamson to acting head of single-family and Tom Klein to acting general counsel. These highly respected leaders will help lead the company to increased safety and soundness and accelerated profitability,” said Bill Pulte, director of the Federal Housing Finance Agency.
Williamson, who has been with Fannie Mae for nearly two decades, previously served as senior vice president for single-family collateral risk. He will report to co-president Brandon Hamara and succeeds Malloy Evans, who is leaving the company.
Klein, a 20-year veteran of Fannie Mae’s legal department, most recently served as enterprise deputy general counsel. He will report to acting CEO and COO Peter Akwaboah, who was named acting CEO on Wednesday.
“Elevating experienced and trusted leaders like Jake and Tom to these roles will help us quickly build upon our rock-solid foundation. I look forward to working with them,” said Akwaboah.
Pulte thanked outgoing executives Evans and Danielle McCoy, the departing general counsel, for their years of service. “We greatly appreciate Malloy and Danielle for their contributions and wish them the best in their future endeavors,” he said.
“Serving Fannie Mae Single-Family over the years has been a true honor. I could not be more proud of the foundation we have laid for the company and for America’s homeowners. Thank you to the Fannie Mae team, Chairman Pulte, and all of our business partners. I am confident in this experienced team moving forward and know the company will continue achieving great things,” said Evans.
McCoy called working for the GSE ” the privilege of a lifetime.”
She continued, “Helping American homeowners and renters find a place to call home is truly rewarding work. I want to express my sincere gratitude for the Fannie Mae family, Chairman Pulte, and all of the people that make Fannie Mae great. I know the company has a bright future ahead.”
The leadership shakeup comes as Fannie Mae and Freddie Mac are rumored to go public, potentially by the end of 2025.
The changes also follow the departure of Priscilla Almodovar, who has served as Fannie Mae’s president and CEO since 2022. In an 8-K filing dated Oct. 22, it was written that Almodovar entered into an agreement and general release with Fannie Mae that provides for her to receive: $1,200,000 (two years of her annual base salary); twelve months of subsidized medical and dental coverage; and six months of outplacement services.
“The agreement also provides that she releases certain claims against Fannie Mae, its subsidiaries, the conservator, and other specified parties as set forth in the agreement,” the filing read.
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