According to SEC filings, changes to the Freddie Mac and Fannie Mae boards have taken place. At Freddie Mac, six board members, including Lance Drummond and Jane Prokop, were removed. Pulte has taken over as the new board chair, alongside Brandon Hamara, Clinton Jones, and Ralph “Cody” Kittle.
At Fannie Mae, eight board members were removed, with CEO Priscilla Almodovar remaining. Existing members Renée Lewis Glover, Karin Kimbrough, Manuel Sánchez Rodríguez, and Scott Stowell are staying. Michael Heid has been removed, and new appointees include Clinton Jones, Christopher Stanley (from Elon Musk’s SpaceX), and Michael Stucky. Pulte will also serve as the new chair of Fannie Mae’s board.
Freddie Mac will disclose any related party transactions and the new directors’ committee assignments, while Fannie Mae has yet to finalize board assignments for the new members.
This is an ongoing story.