WRONG_WOEID WRONG_WOEID

Antiguan Named Chairman of Fannie Mae

Egbert PerryATLANTA, Ga – The Federal Housing Finance Agency (FHFA) has announced the appointment of Integral Chairman and CEO Egbert LJ Perry to the position of chairman of the board of directors of Fannie Mae.

This represents one of the highest positions ever held by a Caribbean national in business in the United States.

Perry, who has served on the Fannie Mae Board since 2008, will continue to serve in his current positions at Integral and will assume the chairmanship at Fannie Mae in late March.



“As we continue to support America’s economic recovery through the creation of a better housing finance system, we are excited and honoured to have Egbert as our new chairman,” said Tim Mayopoulos, CEO of Fannie Mae. “Egbert’s appointment further reflects our commitment to the continued reform of the nation’s housing finance system.”



Perry is the youngest boy in his family, and the 9th of 11 children of Margaret "Maggie" and Percival "Percy" Perry.  He was born in St John's, Antigua and attended St Joseph's Academy. In 1970, at the age of 14, he was on track to emulate his oldest brother, Dr Percival "Pep" Perry, a nuclear physicist living in English Harbour, who according to Antigua Grammar School records, had been the only student to graduate holding the titles of number one student and athlete in his class.



But a different story would be written for the younger Perry, who that year won a scholarship to complete his last two years of high school at a private boarding school in New York. There, he would spend much of his non-classroom time working odd jobs to save up for college.  After graduation, he attended the University of Pennsylvania, where he graduated with honours and years later was admitted to the Gallery of Distinguished Engineering Alumni; the 11th student recognised in the then 250th year history of the University. He has served on the board of the University since 1996.



After leaving university, Perry entered the business world, and over a 13-year career as president of a small real estate and construction firm in Atlanta, he helped to grow that business into the nation's third largest black-owned business.  He would then go on to start his own firm, The Integral Group, where he currently serves as chairman and CEO.





Perry founded Integral in 1993 to provide real estate development, advisory, and investment management services and is a celebrated innovator in urban revitalization. Today, Integral is a diversified, vertically-integrated real estate and infrastructure development company with about 300 employees. The company has successfully developed urban infill projects in more than a dozen markets nationally with a strong presence in Atlanta, Denver, and San Francisco and a growing international presence in the Caribbean and Africa.

Perry has extensive experience in developing public-private partnerships for major urban mixed-use projects and places a keen focus on creating value in cities and transforming communities.



Complementing his leadership at Integral, Perry has served on the board of trustees of the University of Pennsylvania since 1996, is the current chair of Central Atlanta Progress and the Advisory Board of The Penn Institute for Urban Research, and a former board member of the Federal Reserve Bank of Atlanta.



“Fannie Mae plays an essential role in helping millions of Americans gain access to affordable homeownership and rental housing, and I am honoured to leverage my experience to partner with Director Watt, my fellow board members and the Fannie Mae management team to support this very important organization and its work,” said Perry. “Fannie Mae has made significant progress over the last five years, and I look forward to playing an expanded role in its next chapter.”



Since 2009, Fannie Mae has provided more than $4.1 trillion in liquidity, enabling 3.7 million home purchases and 12.3 million refinanced mortgages. The company has also helped mitigate foreclosures through 1.5 million workout solutions and more than 1 million loan modifications since 2009. Most recently, Fannie Mae announced fourth quarter earnings of $6.5 billion and that it would pay dividends totaling $7.2 billion in March. Once the March dividend payment is made, Fannie Mae will have paid the government $121.1 billion, exceeding the size of the federal preferred stake of $117.1 billion.


Reporting by Caribarena news, publishing by Ofer Shaked.

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29 Comments In This Article   

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RE: Antiguan Named Chairman of Fannie Mae

#29 Soldier Crab » 2014-03-24 13:47

Not only was Stanford given full reign,he as Knighted.Come to find out,the man was nothing but a common thief and an obnoxious blowhard.Yet (and you have to give PM spencer much credit for not hopping on the bandwagon)
people were prostituting themselves,left,righ t and center,to be seen gladhanding the criminal in order to get a hand out.So,here we have another son of the soil doing well for himself and making his countrymen proud,and I congratulate him on his appointment.
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Soldier Crab

RE: Antiguan Named Chairman of Fannie Mae

#28 Auckie » 2014-03-24 12:14

A most admirable man.
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Auckie

global

#27 debs » 2014-03-19 13:39

Kudos to Carib Arena. Despite the appointment of an Antiguan Egbert Perry by the Obama administration to the highest post ever as Chairman of a three trillion dollar government business entity, this has been basically ignored by the other Antiguan media outlets. Carib Arena continues to cover all the news all the time. Keep up the good work.
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debs

RE: Antiguan Named Chairman of Fannie Mae

#26 Morris » 2014-03-19 06:51

Congratulations on your appointment sir! May your tenure in office be be filled with success. God bless!
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Morris

RE: Antiguan Named Chairman of Fannie Mae

#25 justin » 2014-03-17 08:40

Mr. Perry's financing fell thru. That is the reason why he was not able to take HMB forward.
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justin

RE: Antiguan Named Chairman of Fannie Mae

#24 Antiguan » 2014-03-17 05:24

Antigua and Barbuda need more Perrys leading the government. Enough of the Birds.
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Antiguan

What about his Nephew!

#23 AussieInvestor » 2014-03-17 02:00

You should also see what his Nephew Percival is doing on the other side of the world in Australia, smart family!
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AussieInvestor

@tenman » 2014-03-16 10:01#3

#22 Observer... » 2014-03-16 23:46

So in fact either people find ways of providing for themselves or they go beg a politician for a job. I refuse to do so. But many Antiguans seem to be always depending on politicians to assist them. Let us make the private sector work in Antigua without the politicians. So that they will become irrelevant. No wonder why neither party wants to retrench. This is given them power as to who can make a living and who not. What a power. Well people every five year you have the power in your hand. Use it wisely. Send these bunch of politician home packing. Ten years was more than enough.
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Observer...

@tenman » 2014-03-16 10:01#2

#21 Observer... » 2014-03-16 23:45

Do not envy him/her to make a good salary. Pay him/her the same as what you would pay a white expatriate. And give him/her all the benefits as well. This will boost the self-esteem of every Antiguan knowing that in your country if you work hard you can make it. Not if you are well connected to the politician you can make it. It is just a small group of us that really choses to come back home and fight for our rightful place. For a black person I lived well in both Europe and America, but something in my heart longs for to be home. But when I see the politics its de-motivates me to stay. And for sure if the UPP remains I will call Antigua my vacation home only. My children, except for one, have all migrated and I don’t blame them. These days even well educated professionals need to beg politicians for a job. And only because the private sector is death. The economy is at a standstill and only the government and World Bank are pumping money in the economy.
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Observer...

@tenman » 2014-03-16 10:01#1

#20 Observer... » 2014-03-16 23:44

Tenman the reason Mr. Perry didn't succeed is because of the inept government. Mr. Perry has all the credentials indeed and he has the networking capabilities. But dealing with these in-experience guys is a nightmare for any serious investor that comes along. And I can testify to that. I hope when ABLP wins they can still entice Mr. Perry to do business in his own country. Mr. Perry is exactly the person with the connection to solve the gaming dispute. Mr. Perry has connections all the way into the Whitehouse. I was told by a competitor that the same Mr. Perry is instrumental to bring much needed investment in St. Lucia. Mr. Perry and many other Antiguans are not respected and appreciated in their own country. But this shows again my point that Antiguans have the qualification and the skillset to take up the positions in their country to move the country forward. We have a many of Antiguan Surgeons in the USA and Canada that can easily take our health service to be the best in the Caribbean and who knows the world. But we prefer, because of inner jealousy of our own, to give the job to white expatriates. This mentality needs to change. Start to love your own race and especially your own country man.
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Observer...

@ True National

#19 Dessalines » 2014-03-16 23:41

Please ignore those shills singing for their supper.
Anyone who is questioning Perry's qualification to develop the HMB property should not only take a look at the portfolio of the company he founded and heads - Integral. His qualifications and experience in finance, urban and infrastructure development is unmatched even in Atlanta Georgia as the link below shows.

integral-online.com/

Stanford's qualifications were never questioned. He was no financier, real estate developer or airline executive however he was given free reign to do as he liked in Antigua and now we are paying the price.
Now we have an Antiguan who is demonstrably more qualified and legitimate legitimately experienced than Stanford the shills are out to belittle his qualifications and ability to develop a simple hotel property. SMFH.
Perry should not be only given HMB to develop but be allowed to draw up re development plans for the entire country. A dat me say.
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Dessalines

Congrats, Sir!

#18 Dig It » 2014-03-16 17:37

This is great news! Congratulations to Mr. Perry! Without a doubt, our local talents deserve to be a part of nation-building! Wish Mr. Perry well in his new position!
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Dig It

Solid as a rock!

#17 Dr. Isaac Newton » 2014-03-16 15:55

Awesome Mr. Perry! Self-evidently, homegrown intelligence is just as good or better. When given the opportunity Antiguans and Barbudans the world over will execute with excellence. Yet, our political leaders are so addicted to psychological bondage that foreign is superior and excellence is imported.

It will take the people to punish politicians for ignoring local talent!
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Dr. Isaac Newton

Chairman Appointed

#16 TRUE ANTIGUAN » 2014-03-16 13:41

CONGRATULATIONS !!

The expressed number of negatives definitely confirms how in Antigua and Barbuda a prophet has no honour

We continue to drive away our talented men and women in favour of foreigners ..
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TRUE ANTIGUAN

Bishop

#15 Loretta Ramsey » 2014-03-16 13:34

Hello Mr. Perry, congratulations to one of our sons. We Antiguans a very proud of your accomplishments. May the good Lord watch over, may His wisdom guide you.
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Loretta Ramsey

national putting square pegs in round holes

#14 tenman » 2014-03-16 10:01

National I join you in giving l kudos to Mr. Perry. When the ablp is elected they may consider him for a position in the project to build 500 homes. The aim of that project is inline with his experience. Clearly he has a good record in that area and not hotel development
...
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tenman

@ True National

#13 Meigo Man » 2014-03-16 09:35

You have missed the boat BIG time on the Half Moon Bay saga! The property should not have been given to one "person" with exclusivity for three years! Evidently this was a failure - since nothing panned out!

I have no problem with Mr. Perry being invited to look for an investor for Half Moon Bay, but exclusive? - I don't agree!
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Meigo Man

Congrats are in order!

#12 True National » 2014-03-16 08:46

It is good to see everyone congratulating Mr. Perry, but I note the absence of comments from the Red Cool Aid gang (Tenman et al). Is it because they were quick to criticize Mr. Perry once the UPP administration afforded him the opportunity to secure financing to redevelop Half Moon bay hotel? It is clear that the Government made an excellent choice then, and it is unfortunate that the financial markets crashed while he was negotiating the necessary financing.

Mr. Perry's new appointment demonstrates the visionary leadership of the UPP, and its commitment to make opportunities available to nationals to control the commanding heights of the economy.
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True National

Congratulations Mr Perry

#11 MaeStro » 2014-03-16 06:52

Very impressive looking forward to hearing greater things.

Now that the HMB has a more realistic price maybe if you are still interested and the Government will revisit you can make a positive difference there. Again congrats.
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MaeStro

RE: Antiguan Named Chairman of Fannie Mae

#10 Cool Ruler » 2014-03-15 12:44

Congratulations to Mr. Perry. Fannie Mae is not a well liked organization, especially when it comes to their stringent insurance requirements for multifamily home's. I am sure that mortgagee's are hoping that in the coming years these can be less stringent.
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Cool Ruler

RE: Antiguan Named Chairman of Fannie Mae

#9 island visitor » 2014-03-15 10:44

Congratulations where it is due! However, you have some other, very capable people, actually living on your island - so why not get them to sort out your ridiculously corrupt country, with a government appearing to be only interested in personal gain - and make it a true democratic place?
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island visitor

PROUD ACHIEVEMENTS

#8 CROSSBOW » 2014-03-15 10:11

It is no doubt that a "prophet has no honour in his own country."All Antiguans and Bsrbudans, no matter what our political convictions, are all proud of you and wish you every success. But it must not miss us that having born in Antigua and immigrated to America you, not withstanding you were first an immigrant but now a citizen must now see that each one has something to offer and if what they have is good for our country we should tightly embrace. God speed citizen Perry!
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CROSSBOW

Congratulations

#7 Lanky Louie » 2014-03-15 08:59

Mr. Perry,

I commend you on such a wonderful and outstanding accomplishment. Based on your past successes, I'm sure you'll do very well in your position as chairman.
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Lanky Louie

Thanks!

#6 John French !! » 2014-03-15 08:26

Notes From A Native Son Of The Rock! The Akan & Ashanti are pounding the drums from "Eve's Garden" to Devil's Bridge to Halfmoon Bay!
People steeped in "wi lub ugly" & "ethiical badmindedness" refused to embrace & give Praise to "de Island Bwoy" who made an honest living developing huge success for Herman & Black Political/Economic Power in Atlanta.
JF!! encouraged a different thinking about one of our own's success & potential to change fortunes. Too many were blinded by political, economic, social badmindedness & permitted "wi lub ugly" to cloud their thinking. Nation Bulding requires that A&B people always Seek the Innovative Good, out of Gloom & Doom with the Right Visionary, Creative (as fnpsr is wont to say with RWE) People of African Descent.
We must shake off the colonial mentality that causes North Atlantic Buccaneers who care not a wit about us & Geopolitical Intelligence & Operations such as is now being practiced to change Voter Behaviour of a "Bewildered & Bemused Electorate" by News Portals that know absolutely nothing of our Location & MarkingQuote:
IF you can keep your head when all about you Are losing theirs and blaming it on you, If you can trust yourself when all men doubt you, But make allowance for their doubting too; If you can wait and not be tired by waiting, Or being lied about, don't deal in lies,
Or being hated, don't give way to hating, And yet don't look too good, nor talk too wise:
Give Thanks!
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John French !!

Proud to be an Antiguan

#5 NAMELESS » 2014-03-15 07:52

Congrats sir. This is just the start of what could be.
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NAMELESS

Come home...

#4 Julian » 2014-03-15 07:16

Many congratulations & a well deserved promotion.
Please, when you've finished with Fannie May, will you come & run our Antigua & Barbuda? We need your expertise & knowledge.
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Julian

Imagine

#3 Anon » 2014-03-15 06:44

Imagine what he would've been able to do with HMB!
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Anon

Another Antiguan doing very well

#2 Antiguan » 2014-03-15 06:43

Way to go Son. I am very proud of your achievements. Please visit Antigua and Barbuda and see what can be done to revive our housing programme.
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Antiguan

RE: Antiguan Named Chairman of Fannie Mae

#1 Antiguan Abroad » 2014-03-15 05:23

Very impressive credentials. Congratulations on your appointment.
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Antiguan Abroad

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