Fannie Mae Appoints New CEO
The firm has appointed industry veteran Priscilla Almodovar to the role and as a board of directors member, effective December 5.
WASHINGTON D.C. – Fannie Mae has appointed Priscilla Almodovar as CEO and as a member of the organization’s board of directors.
Effective December 5, Almodovar will succeed David C. Benson, who has served as interim CEO and a board of director member since May of this year. Benson will continue to serve in his role as president.
With a more than 30-year industry career, Almodovar holds experience in finance, real estate and community development.
Since 2019, Almodovar has served as president and CEO of Enterprise Community Partners, a national organization that aims to increase the supply of affordable housing, advance racial equity and support residents and communities. Prior to Enterprise Community Partners, Almodovar worked at JPMorgan Chase, where she led two of the firm’s national real estate businesses. During her decade-long tenure at JPMorgan Chase, she most recently served as managing director and co-head of real estate banking, for which she served national and regional real estate developers, investors, owners and investment funds. Earlier in her career, Almodovar was president and CEO at 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,” states 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.”
Heid adds, “I also want to express the board’s deep appreciation to Dave Benson for his invaluable service as Interim CEO since May. We are fortunate to have a leader of Dave’s character, skill and commitment to the company and will benefit from his continued leadership as president, as a critical member of the management committee, and a key partner and advisor to the board of directors.”
“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,” says Priscilla 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.”
Almodovar is a board member of Realty Income and she has previously been recognized as one of Fortune’s “50 Most Powerful Latinas” and Hispanic Business’ “100 Most Influential Hispanics.” Almodovar received a bachelor’s degree from Hofstra University and a Juris Doctor from Columbia University School of Law.