Bridging The Affordability Gap with Priscilla Almodovar

Willy was joined by one of the most notable figures in housing finance, Priscilla Almodovar, President and Chief Executive Officer of Fannie Mae. She is on a mission to create a housing market that works for everyone, including whom she calls the “credit invisible” – hard working Americans who may not qualify for traditional loans.

She and Willy discussed the intricacies of her career journey in the private, public, and social sectors, what drew her to the housing industry, mortgage rate predictions, what Fannie Mae is doing to address the affordability crisis, and her strategic vision driving the organization’s initiatives.

Key Points In The Webcast:
00:00 Introduction
04:56 Willy introduces Priscilla Almodovar.
06:15 How Fannie Mae got Priscilla to Washington.
08:14 Childhood aspirations and getting into law school.
10:24 Working in White & Case.
12:16 Why jump into state government?
13:31 Discovering the passion for housing.
18:09 How to get things done in public sector.
19:01 Lessons learned working in Fannie Mae.
21:58 Public vs. private: Difference in purpose and mission
25:00 Leadership lessons in JP Morgan.
28:07 The transition from JP Morgan to a smaller company.
32:15 Why is it hard to build affordable housing?
33:25 The need for local and state level collaboration.
37:35 Managing multi and single family homes.
40:54 Fannie Mae’s positive transformation and innovation.
44:35 The benefit of a long-term fixed rate mortgage.
49:51 Why not provide second mortgages to single family?
52:58 The challenge of deploying capital for multifamily.
57:32 Fannie Mae's business model.
01:00:42 Priscilla's mission as a CEO.

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