Federal National Mortgage Association Board has appointed company President David C. Benson to the additional role of Interim Chief Executive Officer and Board member, effective May 1, 2022, subject to final Federal Housing Finance Agency approval. He will succeed Chief Executive Officer Hugh R. Frater, who has also announced his decision to retire and resign from the Board. David Benson is currently Fannie Mae's President responsible for leading the development and execution of the strategic plan for the organization, as well as leading the Single-Family and Multifamily businesses, and will continue in that role.

He has served in a number of executive positions during his 20 years at Fannie Mae, including as Executive Vice President and Chief Financial Officer. He also serves on the Board of Managers of Common Securitization Solutions, a Fannie Mae and Freddie Mac joint venture. The Board of Directors also announced that it plans to conduct a national search for a permanent CEO.