GENERAL SESSION: GSE Update
The leaders of Fannie Mae and Freddie Mac share their strategic vision and provide updates on top priorities.
Mark Jones is the 2024 MBA Chairman and President of Union Home Mortgage. Mark co-founded Amerifirst Home Mortgage in 1983, a company he grew from an individual location in Kalamazoo, Michigan, to over 80 full-service locations and 900 personnel nationwide. In January 2023, Amerifirst merged with Union Home Mortgage to form a top 40 national mortgage lender, where Mark now serves as President. Prior to the merger, Amerifirst was the No. 1 USDA lender and the No. 3 FHA lender in Michigan, and the No. 13 FHA lender in Florida. Amerifirst was also a Ginnie Mae issuer and serviced in-house a $6 billion loan portfolio. Amerifirst ranked as a Best and Brightest Company to Work for in the Nation for five consecutive years (2016-2020) and was named one of the top 50 Best Mortgage Companies to Work For in 2021. In 2016 Mark received the Ernst and Young Entrepreneur of the Year award for Michigan and Northwest Ohio. In addition to his service as MBA’s Chairman-Elect, Mark currently serves as Chairman of MBA’s DEI Advisory Committee. He previously served as co-chair of MBA’s Independent Mortgage Bankers Executive Council. Mark also serves as board member and Public Policy Committee Chair at Southwest Michigan First and serves as Chair of Southwest Michigan First PAC.
Priscilla Almodovar is Fannie Mae’s Chief Executive Officer (CEO) and serves on Fannie Mae’s Board of Directors, including as a member of the Community Responsibility and Sustainability Committee. With deep expertise in America’s housing finance system, Ms. Almodovar is responsible for overseeing the firm’s strategy, managing risk, driving innovation and efficiency, and promoting and fostering diversity and inclusion throughout the business. Prior to joining Fannie Mae, Ms. Almodovar was President and CEO of Enterprise Community Partners, a national organization focused on increasing the supply of affordable housing, advancing racial equity, and aggregating and investing capital to create meaningful change for systems, people, and communities. Previously, Ms. Almodovar worked at JPMorgan Chase and led two of the firm’s national real estate businesses; most recently serving as Managing Director, co-Head of Real Estate Banking where she served national and regional real estate developers, investors, owners, and investment funds. Earlier in her career, she was President and CEO at New York State Housing Finance Agency, State of New York Mortgage Agency, and Affordable Housing Corporation. In this role, she oversaw the agencies responsible for providing construction and permanent loans and tax credit equity to multi-family developers, mortgages to first time homebuyers, and credit insurance. During her tenure, New York State Housing Finance Agency was the largest issuer of housing bonds in the U.S. She started her career as equity partner at the global law firm, White and Case LLP, specializing in international project finance. Ms. Almodovar is a Board member of Realty Income (NYSE: O), a Real Estate Investment Trust. She also serves on the Board of New York Road Runners, a non-profit organization established to help and inspire people through running. She earned her bachelor’s degree from Hofstra University and her Juris Doctor from Columbia University School of Law.
Mike Hutchins is president of Freddie Mac and a member of its Senior Operating Committee. As president, he reports to the CEO and oversees the company’s Single-Family, Multifamily, Investments and Capital Markets, and Enterprise Operations and Technology Divisions. Hutchins has worked in the financial services industry for over 30 years. Most recently, he was co-founder and CEO of PrinceRidge. Prior to that, he was with UBS, holding a variety of positions including the global head of the Fixed Income, Rates, and Currencies Group. Prior to UBS, Hutchins worked at Salomon Brothers and held a number of management positions, including co-head of Fixed Income Capital Markets.