Fannie Mae has named Jake Williamson as the new head of its single-family division and Tom Klein as acting general counsel in the latest leadership shake-up at the government-sponsored mortgage investor.
In a press release, Federal Housing Finance Agency (FHFA) Director Bill Pulte, regulator of government-sponsored enterprises Fannie Mae and Freddie Mac, said the promotions “will help lead the company to increased safety and soundness and accelerated profitability.”
Pulte installed himself as chairman of Fannie Mae’s and Freddie Mac’s separate boards of directors in March, shortly after assuming his FHFA director role, and ousted 14 board members at the two companies.
Since then, an array of promotions and departures have ensued at Fannie. Most recently, CEO Priscilla Almodovar departed and was replaced on an acting basis by Peter Akwaboah, the company’s chief operating officer since May 2024.
“Elevating experienced and trusted leaders like Jake and Tom to these roles will help us quickly build upon our rock-solid foundation,” commented Akwaboah on Williamson’s and Klein’s promotions, in a press release.
Williamson, who most recently served as senior vice president of single-family collateral risk, replaces Malloy Evans, who is leaving the company.
“Serving Fannie Mae Single-Family over the years has been a true honor,” said Evans. “I could not be more proud of the foundation we have laid for the company and for America’s homeowners.”
Klein, who previously served as enterprise deputy general counsel and holds two decades of experience at Fannie Mae, replaces outgoing Fannie Mae General Counsel Danielle McCoy. Her parting remarks echoed Evans’ comments.
“Working for Fannie Mae has been the privilege of a lifetime,” McCoy said. “Helping American homeowners and renters find a place to call home is truly rewarding work.”
The promotions of Williamson and Klein follow a handful of big-ticket promotions at the company just last week.
Almodovar had served as chief executive since December 2022. Effective Oct. 22, she also vacated her seat on Fannie Mae’s board.
A filing with the U.S. Securities and Exchange Commission said Almodovar’s severance package included two years’ of base salary pay, equal to $1.2 million, as well as a year of medical and dental benefits and six months of outplacement services.
Meanwhile, John Roscoe and Brandon Hamara were named co-presidents of Fannie Mae last week, each having previously held executive roles in the agency world.
Roscoe, a former FHFA chief of staff, previously served as Fannie’s executive vice president of operations and public relations.
Hamara, a former vice president at Tri Pointe Homes, previously served on Freddie Mac’s board but resigned from that role to join Fannie Mae’s board in early October.
Williamson, the new head of Fannie’s single-family business, will report to Hamara, while Klein, as acting general counsel, will report to Akwaboah.
