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 function in Could 2024.
Whether or not it’s refining your online business mannequin, mastering new applied sciences, or discovering methods to capitalize on the subsequent market surge, Inman Join New York will put together you to take daring steps ahead. The Subsequent Chapter is about to start. Be a part of it. Be part of us and 1000’s of actual property leaders Jan. 22-24, 2025.
Former Fannie Mae president David Benson has joined iBuyer Opendoor‘s board of administrators, in keeping with 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 am pleased to join the Board of Opendoor,” Benson stated in a written assertion. “Opendoor has an impressive track record of bringing innovative and customer-centric solutions to residential real estate. I am eager to collaborate with the Board and management team to build further on Opendoor’s progress in bringing certainty and efficiency to the home buying and selling process.”
A graduate of the College of California Los Angeles, Harvard Medical College and Sanford College College 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 items and company capabilities, together with Finance, IT, Operations, Technique, Human Assets 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 file ranges of profitability.
Carrie Wheeler | Opendoor CEO
“I am thrilled to welcome David to our Board. He is a deeply respected executive who brings to our team three decades of leadership in the single-family residential real estate space, along with deep understanding of the capital markets and regulatory landscape,” Opendoor CEO and Board Director Carrie Wheeler stated. “I know that we will benefit from his industry insights and operating expertise as we continue building the largest, most trusted e-commerce platform for residential real estate transactions.”
Benson will obtain a $50,000 annual money retainer for annually of his time period, $10,000 for his function on the board’s audit committee, and an annual grant of restricted inventory items, Opendoor’s newest Securities and Change Committee submitting learn.
