Perry Appointed New Chairman Of Fannie Mae Board

Posted by Patrick Barnard on February 26, 2014 No Comments
Categories : Residential Mortgage

Having reached the company's mandatory retirement age, Philip A. Laskawy will step down as chairman of the board of Fannie Mae, effective March 31, the Federal Housing Finance Agency (FHFA) announced. He will be replaced by board member Egbert L.J. Perry, who previously served a seven-year term as a director of the Federal Reserve Bank of Atlanta.

‘Phil Laskawy, the former chairman and chief executive officer of Ernst & Young, has provided dedicated leadership during an extraordinarily challenging period for both the country and the company,’ says Mel Watt, director of the FHFA, in a release. ‘Under his leadership since 2008, Fannie Mae has helped millions of American families refinance their mortgages, buy new homes, rent affordable housing and avoid foreclosure. In his time as chairman, the company returned to profitability and achieved record financial results.’

Watt adds that he is confident that Perry ‘will continue to provide the same qualities of thoughtful and responsible leadership that [Laskawy] has provided.’

Timothy J. Mayopoulos, president and CEO of Fannie Mae, adds that Perry's ‘combination of community development and commercial experience is exceptionally valuable. We appreciate his commitment to improving the company, ensuring that families have access to affordable mortgage credit, and creating a sustainable housing finance system for the future.’

As per the release, Perry has served as a Fannie Mae director since December 2008. He is chairman and CEO of Integral Group, which he founded in 1993 to provide real estate development, advisory and investment management services across major U.S. urban markets.

Perry has approximately 35 years of experience as a real estate professional, including work in urban development; developing and investing in mixed-income, mixed-use communities; affordable and workforce housing; and commercial real estate projects in markets across the country.

Perry also currently serves as a long-time trustee of the University of Pennsylvania.

‘It is an honor to lead the board's governance of Fannie Mae, and I look forward to continuing to work with my fellow board members, our management team, Director Watt and his team at FHFA to deliver on the company's essential role in the housing market,’ says Perry.

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