Company Profile
Fannie Mae, officially known as the Federal National Mortgage Association (FNMA), is a United States government-sponsored enterprise (GSE) dedicated to expanding the secondary mortgage market through the securitization of mortgage loans into mortgage-backed securities. It plays a pivotal role in the nation's housing finance system by offering liquidity, stability, and affordability, ensuring nationwide mortgage credit availability for homes of diverse types and sizes. Further details about their services and objectives can be found on [Fannie Mae's Official Website](https://www.fanniemae.com/).
Key Functions and Offerings
- Acquisition of mortgages from lending institutions to promote affordable lending activities.
- Provision of expert guidance and diverse mortgage options to homebuyers.
- Creation of educational resources like the HomeView® Homeownership Education Course in English and Spanish.
- Initiatives to utilize rental payment histories to improve mortgage accessibility for individuals with limited credit histories.
Leadership Team
Fannie Mae's leadership team is dedicated to driving innovation in the housing industry and enhancing access to affordable housing.
- Priscilla Almodovar: President and CEO, leading Fannie Mae with $17.4 billion in earnings in 2023 and provision of $369 billion in market liquidity. [LinkedIn](https://www.linkedin.com/in/priscilla-almodovar)
- Peter Akwaboah: Executive VP and COO, joined in 2024 with extensive experience in technology and business transformation from Morgan Stanley. [LinkedIn](https://www.linkedin.com/in/peterakwaboah)
- Sharifa A. Anderson: Senior VP and Chief Diversity and Inclusion Officer, recognized for advancing inclusive workplace initiatives. [LinkedIn](https://www.linkedin.com/in/sharifaanderson)
- Malloy Evans: Executive VP and Head of Single-Family Business, acclaimed for elevating Fannie Mae's reputation as a top workplace. [LinkedIn](https://www.linkedin.com/in/malloyevans)
- Michele M. Evans: Executive VP and Head of Multifamily, regularly acknowledged as a leader in housing finance. [LinkedIn](https://www.linkedin.com/in/michele-evans-b8b608186)
- Chryssa C. Halley: Executive VP and CFO, ensures financial alignment with strategic goals. [LinkedIn](https://www.linkedin.com/in/chryssahalley)
Competitor Profiling
Fannie Mae operates amidst notable industry competitors, including Freddie Mac, Republic Mortgage Insurance Company, Flagstar, and Caliber Home Loans. Each competitor presents unique market challenges and opportunities.
Key Competitors
1. Freddie Mac: Shares a governmental mission with Fannie Mae, providing mortgage market liquidity, stability, and affordability. Known for high CEO scores and robust mortgage solutions, Freddie Mac focuses on supporting low-income borrowers and deploying innovative down payment assistance tools.
2. Republic Mortgage Insurance Company (RMIC): A part of Arch Capital Group, RMIC insures residential mortgages, focusing on mitigating defaults.
3. Flagstar Bank: A leading player in the residential mortgage servicing sector, Flagstar has strengthened its presence through strategic acquisitions under New York Community Bank.
4. Caliber Home Loans: Emphasizes consumer-centric services and offers a diverse array of mortgage products. Recent collaborations with Newrez aim to expand their service and product footprint.
Market Position and Strategic Insights
Fannie Mae must continue innovating to preserve its market leadership amidst these formidable competitors. Emphasizing technological progress in loan processing and focusing on underserved communities is essential for maintaining competitive advantage. Continuous analysis of competitor strategies will aid in strategic planning and enhancing customer engagement for Fannie Mae.
