Better Home & Finance Holding Company announced that Hugh Frater, a founding partner and former managing director of BlackRock and former CEO of Fannie Mae, has been appointed to its Board of Directors, effective March 23, 2026. Frater brings decades of experience across capital markets, housing finance, and corporate leadership to help guide Better?s long-term strategy as it scales the Tinman AI Platform. Frater was a founding partner of BlackRock, where he helped build the global leader in fixed income and mortgage-backed securities into the world's largest asset management company.
His early work played a key role in shaping the modern mortgage capital markets ecosystem, connecting institutional investors to US housing finance. He later served as Chief Executive Officer and Board Member at the Federal National Mortgage Association (Fannie Mae) from 2018 to 2022, where he guided the organization through one of the most volatile periods in the US mortgage market. Prior to his role at Fannie Mae, he 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. He has spent his career at the intersection of global capital, housing finance, and corporate leadership. Frater?s appointment reflects Better?s continued focus on strengthening its board to guide the Company?s next phase of growth as an AI platform bringing the entire industry forward.
