WASHINGTON D.C. – Fannie Mae has appointed Priscilla Almodovar as CEO and as a member of the group’s board of administrators.
Efficient December 5, Almodovar will succeed David C. Benson, who has served as interim CEO and a board of director member since Might of this yr. Benson will proceed to serve in his function as president.
With a greater than 30-year trade profession, Almodovar holds expertise in finance, actual property and group growth.
Since 2019, Almodovar has served as president and CEO of Enterprise Neighborhood Companions, a nationwide group that goals to extend the provision of inexpensive housing, advance racial fairness and assist residents and communities. Previous to Enterprise Neighborhood Companions, Almodovar labored at JPMorgan Chase, the place she led two of the agency’s nationwide actual property companies. Throughout her decade-long tenure at JPMorgan Chase, she most not too long ago served as managing director and co-head of actual property banking, for which she served nationwide and regional actual property builders, buyers, house owners and funding funds. Earlier in her profession, Almodovar was president and CEO at New York State Housing Finance Company, State of New York Mortgage Company and Reasonably priced Housing Corp.
“On behalf of the board of administrators, we’re excited to welcome Priscilla Almodovar as our subsequent CEO,” states Michael J. Heid, chairman of Fannie Mae’s board of administrators. “Priscilla’s huge expertise in massive, advanced companies and her dedication to inexpensive housing makes her a perfect option to additional Fannie Mae’s mission to facilitate equitable and sustainable entry to homeownership and high quality inexpensive rental housing throughout America.”
Heid provides, “I additionally need to specific the board’s deep appreciation to Dave Benson for his invaluable service as Interim CEO since Might. We’re lucky to have a frontrunner of Dave’s character, talent and dedication to the corporate and can profit from his continued management as president, as a vital member of the administration committee, and a key associate and advisor to the board of administrators.”
“It’s an honor to hitch Fannie Mae and lead the corporate because it carries out its very important function within the housing finance market and works to assist make sure that equitable, inexpensive housing is on the market to folks in communities throughout the nation,” says Priscilla Almodovar. “I stay up for working with the board, administration and my new colleagues at Fannie Mae to proceed this necessary work, which has benefited so many individuals over the corporate’s greater than 80-year historical past.”
Almodovar is a board member of Realty Revenue and he or she has beforehand been acknowledged as one in every of Fortune’s “50 Most Highly effective Latinas” and Hispanic Enterprise’ “100 Most Influential Hispanics.” Almodovar obtained a bachelor’s diploma from Hofstra College and a Juris Physician from Columbia College Faculty of Legislation.
