Fannie Mae Appoints Acting CEO
Some high-level changes were made effective immediately as the company searches for a new chief executive.
Fannie Mae has appointed Peter Akwaboah to the position of Acting CEO, following former CEO Priscilla Almodovar’s exit from the position, the company announced on Wednesday. The agency has also appointed John Roscoe and Brandon Hamara as Co-Presidents.
The leadership changes are effective immediately.
Akwaboah previously served as Fannie Mae’s Chief Operating Officer and will continue to handle the role’s obligations with the help of Roscoe and Hamara. The team will continue to serve Fannie Mae and its customers while the association hunts for a permanent CEO.
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The acting CEO has more than 30 years’ experience in financial leadership, including serving as the Chief Operating Officer for Technology and head of innovation at Morgan Stanley. Akwaboah has also worked for the Royal Bank of Scotland, Deutsche Bank, KPMG and IBM.
New co-presidents Roscoe and Hamara have previously served in positions of leadership. Roscoe is the former executive vice president of operations and public relations at the GSE. Most recently, he was principal and CEO of North Star Navigators. Hamara has served on the board of directors at Freddie Mac since March 2025. Since 2017, he has been the vice president & director of land acquisition at Tri Point Homes.
Changes at Fannie and Freddie
This change in leadership is the latest personnel change at the company since William Pulte was sworn in as director of the Federal Housing Financing Agency, which acts as Fannie Mae and its sibling company, Freddie Mac’s regulator.
There are also talks of privatizing the companies, which could raise a $30 billion IPO and bring new capital into the sector. This would just be the start of a yearslong restructuring of the agencies.
Fannie and Freddie have also implemented new general liability insurance requirements for multifamily borrowers which went into effect in May and September, respectively. The updated standards expand coverage expectations for risks such as assault, habitability claims and other high-exposure incidents. The move aims to strengthen lender protections and manage litigation risks, but it also adds pressure on borrowers navigating tighter budgets and higher insurance costs.
