WASHINGTON — The Federal National Mortgage Association’s San Francisco office will move to Birmingham, U.S. Sen. Tommy Tuberville announced Thursday.
The Alabama office is expected to open next year, Fannie Mae confirmed to Alabama Daily News.
Tuberville said he discussed moving the office from California to Alabama with President Donald Trump and Federal Housing Director Bill Pulte. Alabama’s senior senator called it an “early Christmas present.”
“Relocating Fannie Mae from woke San Francisco to Birmingham will not only save taxpayers money, but it will bring jobs and opportunities to our great state,” Tuberville, R-Ala., told reporters on a call.
“Birmingham used to be the financial capital of the South and this is an important step to making Birmingham boom again.”
Fannie Mae is a U.S. mortgage finance provider that was founded under President Franklin D. Roosevelt as part of the New Deal during the Great Depression to stabilize the mortgage market.
Fannie Mae employees in San Francisco have been notified of the change, Tuberville said. It’s unclear exactly how many jobs this move would bring to the state. The mortgage provider does not disclose the number of employees at its offices.
“It’s going to be hundreds of jobs… that it will impact, and hopefully it will be there in a very short period of time,” Tuberville said.
Sen. Katie Britt, R-Ala, told Alabama Daily News she talked with Pulte on Wednesday and said the announcement shows the state is a “great place to do business.”
“We’re glad to have them in Alabama,” Britt said.
Fannie Mae has multiple offices, including in Washington, DC and Plano, TX, according to its website.
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