David Benson

About David Benson

David Benson is a Board Director of Essent (Audit and Risk Committees), Opendoor Technologies (Audit Committee Chair), and former President of Fannie Mae, the largest provider of mortgage credit in the United States with over $4 trillion in assets. As President from 2018 – 2024 he was responsible for each of the P&L producing business units, single-family residential and multifamily, as well as several corporate functions including finance, IT, operations, strategy, human resources, and communications. In 2022 David served as the Fannie Mae’s Interim CEO and was a member of the company’s Board of Directors and a member of the Board’s Community, Responsibility, and Sustainability Committee. He served on the search committee for the permanent CEO hired in December 2022.David pioneered the formation of Common Securitization Solutions, a Fannie Mae-Freddie Mac joint venture, that develops and operates a cloud-native platform which enables the $7 trillion mortgage- backed securities market to achieve enhanced levels of liquidity and standardization. He served on its Board from 2015 – 2024.Throughout the Great Financial Crisis David played a critical role transforming Fannie Mae’s business model. He served as CFO from 20••••18 (and again in 2021) leading the company to record levels of profitability with a focus on business innovation and modernization of financial reporting infrastructure. During a period of rapid change, spanning eight CEO administrations, David provided stable leadership, continuity, and achievement of strategic objectives. A member, chair, and vice chair of the executive management committee for over 15 years, he was directly involved in all strategic matters since prior to and throughout the government conservatorship which commenced in September of 2008. He has extensive experience with working with the Board of Directors, financial regulators, and other government agencies.As the Executive Vice-President of Capital Markets from 20••••13 he successfully converted the largest P&L business unit from a portfolio investing model into a capital-efficient, transactional trading model while reducing risk. As the company’s Treasurer, he ran the largest end user corporate debt and derivative trading operation in the U.S.Prior to his 22 year career at Fannie Mae, David managed several businesses in Institutional Fixed Income for Merrill Lynch based in New York and London.

Experience

1. Member Board of Directors

   Opendoor

   Sep 2024 — Present

   Chairman of Audit Committee

Education

• Harvard Medical School

  MD

  1981 — 1985

• Stanford University Graduate School of Business

  MBA

  1986 — 1988

• UCLA

  BS, Psychobiology

  1977 — 1981