Fannie Mae has appointed Priscilla Almodovar as CEO and member of the Board of Directors, effective December 5. According to the press release, Almodovar brings more than 30 years of experience in finance, real estate, and community development across a number of institutions and organizations.
The Federal National Mortgage Association, commonly known as Fannie Mae, advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America.
Almodovar earned her bachelor’s degree from Hofstra University and her Juris Doctor from Columbia University School of Law. During her career, she has been named to Fortune’s “50 Most Powerful Latinas” and Hispanic Business’ “100 Most Influential Hispanics.”
“On behalf of the Board of Directors, we are excited to welcome Priscilla Almodovar as our next CEO,” said Michael J. Heid, chairman of Fannie Mae’s Board of Directors. “Priscilla’s vast experience in large, complex businesses and her commitment to affordable housing make her an ideal choice to further Fannie Mae’s mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America.”
Prior to her role as president and CEO of Enterprise Community Partners, Almodovar worked for nearly a decade at JPMorgan Chase and led two of the firm’s national real estate businesses; most recently, as managing director, co-head of real estate banking where she served national and regional real estate developers, investors, owners, and investment funds.
Earlier in her career, she was president and CEO of New York State Housing Finance Agency, State of New York Mortgage Agency, and Affordable Housing Corporation. She started her career at White & Case LLP, where she was named an equity partner.
“It’s an honor to join Fannie Mae and lead the company as it carries out its vital role in the housing finance market and works to help ensure that equitable, affordable housing is available to people in communities across the country,” said Almodovar. “I look forward to working with the Board, Management, and my new colleagues at Fannie Mae to continue this important work, which has benefited so many people over the company’s more than 80-year history.”
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