A lot of high-level executives have left Fannie Mae over the last year. Some turnover is to be expected, of course. These are smart, ambitious people with lots of great options and it's normal for people to make a switch when a new administration takes over. But still.
Consider the executive exodus since last fall:
Andrew Bon Salle, Head of Single Family at Fannie Mae — now at Homepoint
Jeffrey Walker, Fannie's Single-Family Chief Strategy Officer — now on the board at Get Credit Healthy
Fernando Correa Arango, Fannie's Head of Corporate Strategy
John Forlines, Fannie Chief Risk Officer — now at Homepoint
Noelle Lipscomb, Fannie's Internal Audit VP — now at Homepoint
Henry Cason, Fannie's Head of Digital Products — now at FinLocker
Renee Schultz, Fannie's SVP of Capital Markets — now on the board of trustees of PennyMac Mortgage Investment Trust
Desmond Smith, Fannie's Chief Customer Officer — now at UWM
Andrew Peters, Fannie's Head of Single-Family Strategy and Insights — now at LenderWorks
That's a pretty robust list. And the GSEs generally grow their talent and promote from within. Employees often spend a large portion of their careers there, committed to the mission of supporting the U.S. housing market — which makes losses from the top ranks a real blow to the organizations.
In her most recent article, Senior Mortgage Reporter Georgia Kromrei takes a look at the executives leaving Fannie Mae and what might be motivating them to join greener pastures in the private sector. Read all about that here.
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