The Federal National Mortgage Association will move its San Francisco office to Birmingham, Alabama, Sen. Tommy Tuberville announced Thursday, calling the move “an early Christmas present.”
Tuberville, a Republican, said in a statement (opens in new tab) and Facebook post (opens in new tab) that he worked with President Donald Trump and Federal Housing Finance Agency Director Bill Pulte on the relocation.
“Fannie Mae is immediately leaving woke California for sweet home Alabama,” Tuberville said. “Birmingham used to be the financial capital of the South, and this is an important step to making Birmingham boom again.”
Fannie Mae, which is headquartered in Washington, D.C., has a branch office on Mission Street in San Francisco’s Financial District.
Pulte, who also serves as Fannie Mae’s chairman, confirmed the move. “Congratulations, Alabama,” he said.
The mortgage finance giant, which ranks No. 25 on this year’s Fortune 500 list (opens in new tab) and employs more than 8,000 people nationwide, confirmed that the Alabama office is expected to open in early 2026. Fannie Mae said the move would cut costs and improve service to lenders in the Southeast.
Under Trump, the federal government has reduced its workforce in San Francisco. In April, the Health and Human Services Department closed its office (opens in new tab) in the Nancy Pelosi Federal Building.
Although conservative politicians have driven a narrative about lawless California cities, Birmingham’s rate of violent crime is 15.64 per 1,000 residents, more than double San Francisco’s 7.06, according to the FBI.
Tuberville said the move would bring “hundreds” of jobs to Alabama, though Fannie Mae does not disclose employment figures for individual offices. The company said California employees will not be required to relocate and there will be no reductions in staff here.
“As I have long said, Alabama is not California, and that is a good thing,” Gov. Kay Ivey posted to her X account (opens in new tab). “I could not be more excited for Fannie Mae’s move to Birmingham.”
Fannie Mae, established during the Great Depression as part of President Franklin D. Roosevelt’s New Deal, is one of the world’s largest mortgage financiers.
