Mortgage giant Fannie Mae said its government regulator has named nine people to its board, giving the company 10 directors.

Those appointed by the Federal Housing Finance Board include Herb Allison, who has been President and Chief Executive of Fannie Mae since September.

That month, the government seized Fannie Mae and sibling company Freddie Mac amid upheaval in the mortgage lending market. The two companies, which own or guarantee around half of the $11.5 trillion in U.S. outstanding home loan debt, operate in a conservatorship that enables the government to inject up to $100 billion in each company in exchange for ownership stakes of almost 80 percent.

The others named to the board were Dennis R. Beresford, William Thomas Forrester, Brenda J. Gaines, Charlynn Goins, Frederick B. Harvey III, Egbert L. J. Perry, David H. Sidwell and Diana L. Taylor.

Sidwell served as Chief Financial Officer of Morgan Stanley from March 2004 to October 2007 and as an executive vice president from March 2004 to May 2007.

Beresford is a former chairman of the Financial Accounting Standards Board and has served as an accouting professor at the University of Georgia.

Forrester was CFO of The Progressive Corp. from 1999 to March 2007.

Gaines was CEO of Diners Club North America from October 2002 until her retirement in April 2004.

Goins served as chairman of the board of New York City Health and Hospitals Corp. from June 2004 to October of this year.

Harvey retired in March from his role as chairman of the Board of Trustees of Enterprise Community Partners, which provides development capital for affordable housing.

Perry is the CEO of the Integral Group LLC, a real estate company.

Taylor has been a managing director for Wolfensohn & Co., a strategic consulting and investment firm, since March 2007.

The new board members join Philip A. Laskawy, who serves as non-executive chairman.

Shares of Fannie Mae rose 11 cents, or 18 percent, to 70 cents in late-morning trading.

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