Better Home & Finance Holding Company (NASDAQ: BETR) announced that Hugh Frater, a founding partner and former managing director of BlackRock (NYSE: BLK) and former CEO of Fannie Mae (OTCQB: FNMA), has been appointed to its board of directors.
Prior to leading Fannie Mae from 2018 to 2022, Frater served as CEO and chairman of Berkadia Commercial Mortgage LLC, a leading commercial and agency real estate lending and investment sales platform. Frater currently serves on the boards of directors of Hippo Holdings Inc. (NYSE: HIPO), Vessel Technologies, Findigs, and the Bipartisan Policy Center.
“Hugh has helped shape the modern housing finance system from the ground up. He’s exactly the kind of leader you want in the room when you’re rebuilding housing finance,” said Vishal Garg, CEO and founder of Better. “From helping build BlackRock as a founding partner to growing Berkadia into a leading agency lending an investment sales platform to leading Fannie Mae through one of the most complex periods in mortgage history, he brings a level of perspective that very few people have. As we use AI to make the mortgage experience, faster, easier, and cheaper for Americans through Better’s AI-native Tinman Platform, Hugh’s experience will be critical at the board level in guiding our long-term strategy.”
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