Priscilla Almodovar has been named Fannie Mae’s CEO and member of the Board of Directors, the GSE announced in a press release.
Almodovar will succeed former interim CEO David C. Benson, who will remain in the role of President.
“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,” Almodovar said.
“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.”
She offers three decades of finance, real estate, and community development experience to the position. Before Fannie Mae, she served as President and CEO of affordable housing-focused org Enterprise Community Partners.
Prior to that, she held two real estate positions at JPMorgan Chase, including Managing Director and Co-Head of Real Estate Banking. She has also served as President and CEO of the New York State Housing Finance Agency, State of New York Mortgage Agency, and Affordable Housing Corporation.
“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 makes 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.”
She is a Board member of Realty Income, and has been featured in Fortune’s “50 Most Powerful Latinas” and Hispanic Business’ “100 Most Influential Hispanics.”