Former Fannie Mae President David Benson Joins Opendoor’s Board
The iBuyer has appointed David Benson to its board of administrators, efficient instantly. Benson was Fannie Mae’s president for six years, retiring from the position in Could 2024.
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Former Fannie Mae president David Benson has joined iBuyer Opendoor‘s board of administrators, based on an announcement on Thursday. Benson will serve on the board and its audit committee till his time period expires in 2026.
David Benson | Credit score: LinkedIn
“I’m happy to hitch the Board of Opendoor,” Benson stated in a written assertion. “Opendoor has a formidable monitor report of bringing revolutionary and customer-centric options to residential actual property. I’m desperate to collaborate with the Board and administration staff to construct additional on Opendoor’s progress in bringing certainty and effectivity to the house shopping for and promoting course of.”
A graduate of the College of California Los Angeles, Harvard Medical Faculty and Sanford College Faculty of Enterprise, Benson began his skilled profession in 1988 as a managing director for Merrill Lynch.
In 2002, Benson moved to Fannie Mae, the place he held a number of roles because the government-sponsored enterprise’s (GSE) vice chairman and assistant treasurer, senior vice chairman and treasurer, and govt vice chairman of capital markets, securitization and technique, and chief monetary officer.
He took the helm as Fannie Mae’s president in August 2018, overseeing the GSE’s single-family residential and multifamily enterprise models and company capabilities, together with Finance, IT, Operations, Technique, Human Sources and Communications. Midway into his presidency, Benson served as Fannie Mae’s interim chief govt officer for a lot of 2022. Benson retired in Could 2024, having led Fannie Mae to record levels of profitability.
Carrie Wheeler | Opendoor CEO
“I’m thrilled to welcome David to our Board. He’s a deeply revered govt who brings to our staff three many years of management within the single-family residential actual property house, together with deep understanding of the capital markets and regulatory panorama,” Opendoor CEO and Board Director Carrie Wheeler stated. “I do know that we’ll profit from his trade insights and working experience as we proceed constructing the biggest, most trusted e-commerce platform for residential actual property transactions.”
Benson will obtain a $50,000 annual money retainer for every year of his time period, $10,000 for his position on the board’s audit committee, and an annual grant of restricted inventory models, Opendoor’s latest Securities and Exchange Committee filing read.
