Fannie Mae (OTCQB: FNMA) has added Barry Habib, CEO of MBS Highway and a longtime media commentator on the housing market, to its board of directors.
Habib’s appointment follows a seven-minute video that he posted to social media where he offered a harsh criticism of Jerome Powell’s leadership of the Federal Reserve. Habib’s video acknowledged that rate decisions are made by a wider committee and not a single person, but he appeared to be echoing Bill Pulte, the Fannie Mae chairman and Federal Housing Finance Agency director, in singling out Powell by claiming, “If a company is doing a bad job, they let the CEO go.”
In a filing with the Securities and Exchange Commission, Fannie Mae said Habib’s appointment was effective as of July 21 – there was no formal press statement on the appointment, nor did Habib or Pulte cite it in their respective social media channels. The filing stated Habib will serve on the board until either the next board election or if he resigns or is removed from this position.
Fannie Mae’s filing added that it has “not yet determined which board committees Mr. Habib will serve on or whether there are any transactions or relationships involving Mr. Habib that are required to be disclosed by Item 404(a) of Regulation S-K. When they have been determined, we will provide in a future filing any required information about committee assignments or about relationships or transactions.”
Photo courtesy of Barry Habib’s Instagram page
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