Conservative businessman Omeed Malik, a close Trump ally and business partner of Donald Trump Jr., has stepped down from the board of Fannie Mae.
The government-sponsored mortgage giant said in a filing with the Securities and Exchange Commission on Tuesday that Malik resigned from the board of directors, effective Oct. 30. Malik is president of the venture capital firm 1789 Capital as well as founder of investment bank Farvahar Partners. Trump Jr. joined 1789 as a partner in November 2024.
Malik “brings extensive experience in financial services and capital markets as well as a blend of legal, entrepreneurial, and strategic leadership expertise,” Fannie said in its last annual report in February. He was paid $114,222 last year, that filing shows.
As a member of the eight-member board, Malik has been a part of Fannie Mae as it has enlarged its balance sheet at the behest of President Donald Trump, who pushed the GSE to buy mortgage-backed securities in a bid to lower mortgage rates.
Trump has also floated the idea of ending the conservatorship of Fannie Mae and Freddie Mac, potentially setting the stage for a $30 billion IPO. But the Trump administration has said little of those plans in recent months as Americans grapple with inflation and rising housing costs.
Malik joined the board in April 2025. At the time, Federal Housing Finance Agency Director Bill Pulte, who chairs the board, posted to X that “Omeed brings great capital markets, legal and investment experience as we Make Fannie and Freddie Great Again!”
Fannie Mae reported $4.2 billion in net income in the third quarter. This year it has provided about $344 billion in liquidity to 295,000 homebuyers. The company’s overall net worth has swelled from $47.4 billion in 2021 to $119.6 billion in the third quarter.
Tristan Navera is a senior reporter on housing policy, covering trends and solutions in the housing market from Washington, DC. He was previously a senior reporter at Bloomberg Law, and before that covered real estate for the Washington Business Journal. Earlier in his career, he spent a decade reporting on business and real estate in Dayton and Columbus, OH. A Cincinnati native, he holds a journalism degree from Ohio University.
