Board of Directors
Under the leadership of a board of directors, Fannie Mae strives daily to fulfill its public mission of providing mortgages to low-, moderate-, and middle-income Americans.
On September 6, 2008, the Director of FHFA appointed FHFA as our conservator in accordance with the Federal Housing Finance Regulatory Reform Act of 2008. As conservator, FHFA succeeded to all rights, titles, powers and privileges of Fannie Mae, and of any shareholder, officer or director of Fannie Mae with respect to Fannie Mae and its assets. As a result, our Board of Directors no longer had the power or duty to manage, direct or oversee our business and affairs.
As conservator, FHFA reconstituted our Board of Directors and delegated specified authorities to it. Our directors serve on behalf of the conservator and exercise their authority as directed by and with the approval, where required, of the conservator.
By charter, our board is made up of 13 members or such other number that the Director of FHFA determines appropriate. FHFA has directed that our board will have a minimum of nine and not more than 13 directors.