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Nearly two years after stepping down and retiring from Fannie Mae, past president David Benson has rejoined the government-sponsored enterprise (GSE) as senior adviser.
Benson previously served a 21-year tenure at Fannie Mae in a wide range of positions, including interim CEO, chief financial officer, executive vice president of capital markets and treasurer.
Federal Housing Finance Agency (FHFA) Director Bill Pulte announced Benson’s return on Tuesday evening in a post on X ahead of Fannie’s Wednesday morning earnings call.
In a separate post, Pulte wrote, “I’ve long heard of David Benson’s business prowess at Fannie Mae. As we build a world class, deep bench, it only made sense for him to RETURN. Sometimes the best times are in the return. Congratulations, David, and the Fannie Mae Team. The future is brighter than ever before!”
Benson’s return comes at a pivotal time for Fannie Mae, which is expected to undergo a potential release from federal conservatorship by the end of 2025 or early 2026 alongside fellow GSE Freddie Mac.
The Wall Street Journal first reported the rumored initial public offering of the GSEs on Aug. 8. The next day, Trump appeared to confirm it, posting an AI-generated image on Truth Social showing him at the New York Stock Exchange with the text “MAGA LISTED NYSE,” “The Great American Mortgage Corporation,” and a November 2025 date.
Fannie Mae is also undergoing operational changes amid Benson’s return. On Oct. 22, it was announced that CEO Priscilla Almodovar would step down and that chief operating officer Peter Akwaboah would serve as acting CEO while the company searches for a permanent chief executive.
It was not made clear whether Almodovar is retiring, resigning or being removed.
In addition, Fannie Mae executives Brandon Hamara and John Roscoe were promoted to the roles of co-presidents. On Oct. 24, Jake Williamson and Tom Klein were tapped to lead Fannie Mae’s single-family business and general counsel’s office, respectively.
