There’s a new executive behind the wheel at Fannie Mae: Priscilla Almodovar, who was appointed CEO of the government-sponsored enterprise (GSE) effective Dec. 5, 2022.
Currently, Almodovar serves as CEO of Enterprise Community Partners, a national nonprofit organization that is focused on affordable housing, with stated goals of increasing housing supply, advancing racial equity and building upward mobility in real estate.
Prior to joining the nonprofit, Almodovar spent nearly 13 years in various leadership positions at JPMorgan Chase, including six years as head of community development banking and another five years as co-head of real estate banking. She also has served as president and CEO at the New York State Housing Finance Agency, State of New York Mortgage Agency and Affordable Housing Corp.
“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. “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.”
“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.”
Almodovar earned a bachelor’s degree from Hofstra University and a J.D. from Columbia University. She will succeed David C. Benson, who was named Fannie’s interim CEO after the retirement in April of former head Hugh Frater. Benson will remain president at Fannie Mae, a role he held prior to and concurrent with his term as interim CEO.
