Fannie And Freddie Leaders Talk About Artificial Intelligence

By KIMBERLEY HAAS Leaders at Fannie Mae and Freddie Mac say they are using artificial intelligence to improve operational efficiencies. Fannie Mae CEO Priscilla Almodovar and Freddie Mac President Mike Hutchins talked about the benefits of using AI during an on-stage conversation last week at the Mortgage Bankers Association’s annual convention and expo in Philadelphia. Moderator Mark Jones, president of Union Home Mortgage and 2024 MBA Chairman, asked how the government-sponsored enterprises are thinking about using AI and what opportunities could arise as a result. Hutchins said they have embraced the use of AI for quite a while. “It’s an important part of our operations and we’re probably at the forefront of embedding AI into our models and into our…

Priscilla Almodovar Named Fannie Mae CEO

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…