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Fannie Mae appoints new tech expert to board By Investing.com

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WASHINGTON – Fannie Mae (OTCQB: FNMA (ST:)) announced today the appointment of Dr. Diane N. Lye to its Board of Directors. Dr. Lye’s extensive background in data science and technology is expected to bring valuable insights to the board’s efforts in advancing the mortgage experience and supporting risk management.

Dr. Lye’s career spans over three decades, with significant roles in several leading companies. Before joining Fannie Mae’s board, she served as Chief Information Officer at Rivian (NASDAQ:) Automotive, Inc. from October 2022 to December 2023.

Her tenure at Capital One as Executive Vice President and Chief Information Officer for Card Technology from May 2019 to September 2022, as well as Senior Vice President of Enterprise Data, Machine Learning, Risk, and Finance Technology from October 2016 to May 2019, showcases her expertise in the intersection of technology and financial services.

Michael J. Heid, Chair of the Board of Fannie Mae, expressed confidence in Dr. Lye’s ability to contribute to the company’s mission, stating, “Her deep data science and technology expertise will provide rich insights as the company continues to advance the mortgage experience for housing market participants.”

Priscilla Almodovar, President and CEO of Fannie Mae, also highlighted the value of Dr. Lye’s experience, noting that her broad technology expertise will be instrumental in strengthening systems that support risk management and identifying technology opportunities to support sustainable access to mortgage credit.

Fannie Mae plays a critical role in the housing finance system, promoting equitable and sustainable homeownership and quality affordable rental housing in the United States. The company is known for enabling the 30-year fixed-rate mortgage and driving innovation to make homebuying and renting more accessible and fair.

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This appointment is part of Fannie Mae’s ongoing commitment to responsible innovation and diversity in its leadership. The information is based on a press release statement from Fannie Mae.

InvestingPro Insights

Fannie Mae’s strategic appointment of Dr. Diane N. Lye to its Board of Directors aligns with the company’s focus on leveraging technology to enhance the mortgage experience and manage risk effectively. As the company welcomes Dr. Lye’s expertise, it’s important to consider the financial context in which she will be operating. According…

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