Government-sponsored enterprise Fannie Mae announced on Thursday the appointment of Scott D. Stowell, a homebuilding executive with nearly 40 years of industry experience, to its board of directors.
“Mr. Stowell brings nearly 40 years of experience in the U.S. homebuilding industry to Fannie Mae’s accomplished and diverse board, which guides the company’s efforts to responsibly expand access to mortgage credit and finance quality, affordable rental housing,” the company said in a statement.
Board chair Michael J. Heid welcomed Stowell to the board, lauding his experience as a helpful factor for Fannie Mae’s intersections with the homebuilding industry.
“We are pleased to welcome Scott to Fannie Mae’s Board of Directors,” Heid said. “His leadership and guidance, especially from the homebuilding perspective, will be invaluable as Fannie Mae continues to create innovative solutions to help address today’s housing challenges.”
Priscilla Almodovar, Fannie Mae’s president and CEO, also lauded Stowell’s appointment as a complement to the board’s expertise.
“With broad expertise across the residential spectrum, including single-family homes, mixed-use communities, and projects meeting local governments’ affordability requirements, we will benefit from Scott’s deep understanding of the homebuilding process as lack of supply and new construction issues persist in the U.S. housing market,” Almodovar said.
This marks the fourth board that Stowell serves on, in addition to positions at Toll Brothers, Pacific Mutual Holding Co. and HomeAid America.
Stowell is the founder and CEO of advisory, real estate investment and angel investing company Capital Thirteen LLC. He served in various roles in the homebuilding industry beginning in 1986 — including as CEO of Standard Pacific Homes, and as as the executive chairman of CalAtlantic Group Inc. following the merger of Standard Pacific and the Ryland Group.
CalAtlantic merged with Lennar Corp. in 2018 and Stowell served on that company’s board of directors until 2021.