The Federal National Mortgage Association, or Fannie Mae, is going to relocate its San Francisco, California, office, moving from the West Coast to the deep South in Birmingham, Alabama.
U.S. Sen. Tommy Tuberville, R-Alabama, told reporters that Fannie Mae will make the move next year.
“This is going to be an important step in making it (Birmingham) boom again,” Tuberville said.
Fannie Mae officials said the new Birmingham office would open in early 2026.
Officials at Fannie Mae told Alabama television station CBS 42 that it would be relocating its San Francisco office to Birmingham as a way of both cutting costs and improving service to lenders across the southeast.
Hundreds of Jobs Will Move to Alabama
Fannie Mae is headquartered in Washington, D.C., and deals with extending lending options for mortgages. Fannie Mae has more than $4 trillion in assets, and is one of the largest companies in the world with over more than 8,000 employees across the nation.
Tuberville said hundreds of jobs would come to Alabama after the move.
Tuberville said he has been working with President Donald Trump and Federal Housing Finance Agency Director Bill Pulte to put the move in motion, SFGate.com reported. He called it “an early Christmas present for the city of Birmingham and the state of Alabama.”
Alabama Gov. Kay Ivey sain on X: “As I have long said Alabama is not California, and that is a good thing. I could not be more excited for Fannie Mae’s move to Birmingham.”
No details were given on whether Fannie Mae would move into an existing building or build their own in Birmingham.
