Billionaire hedge fund manager Bill Ackman has criticized the Trump administration’s plan to sell shares of mortgage giants Fannie Mae and Freddie Mac to the public, laying out an alternative path that would reward existing common shareholders. Ackman, whose Pershing Square hedge fund holds a substantial stake in Fannie and Freddie’s common stock, unveiled an … Read more
The government-backed mortgage giant Fannie Mae is suing multiple home warranty providers, accusing them of misusing its service mark in “fraudulent” mailers sent to borrowers urging them to buy their products. Fannie Mae, whose congressionally-mandated mission is to purchase mortgages from lenders and bundle them into securities for investors to boost the availability of funds … Read more
The CEO of Fannie Mae has exited unexpectedly as President Donald Trump weighs plans to sell shares of the government-backed mortgage giant in a public offering. Fannie Mae announced the immediate departure of Priscilla Almodovar from the CEO role last Wednesday, naming COO Peter Akwaboah as the company’s acting CEO. Almodovar, 58, had led Fannie … Read more