Homebuilding veteran Scott Stowell is joining the board of Fannie Mae

Government-sponsored enterprise Fannie Mae announced Thursday the appointment of Scott D. Stowell, a residential real estate 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. housing industry to Fannie Mae’s experienced and diverse board, which will lead the company’s efforts to responsibly expand access to mortgage lending and finance high-quality and affordable rental housing.” , the company said in a statement.

Board Chairman Michael J. Heid welcomed Stowell to the board, touting his experience as helpful to Fannie Mae’s intersections with the homebuilding industry.

“We are pleased to welcome Scott to the Fannie Mae Board of Directors,” said Heid. “His leadership and guidance, especially from a housing construction perspective, will be invaluable as Fannie Mae continues to create innovative solutions to address today’s housing challenges.”

Priscilla Almodovar, president and CEO of Fannie Mae, also praised Stowell’s appointment as adding to the board’s expertise.

“With broad expertise across the residential spectrum, including single-family homes, mixed-use communities and projects that meet local government affordability requirements, we will benefit from Scott’s deep knowledge of the homebuilding process as supply shortages and new construction challenges persist in the US housing market,” Almodovar said.

This is the fourth board Stowell has served on, in addition to his positions Toll brothers, Pacific Mutual Holding Co. And HomeAid America.

Stowell is the founder and CEO of a consulting, real estate investment and angel investment firm Capital Thirteen LLC. From 1986 he held various positions in the housebuilding sector, including CEO of Standard Pacific housesand as executive chairman of CalAtlantic Group Inc. after the merger of Standard Pacific and the Ryland Group.

CalAtlantic has merged with Lennar Corp. in 2018 and Stowell served on that company’s board of directors until 2021.