Longtime Fannie Mae Executives Announce Retirements
Fannie Mae president David C. Benson announced that he will retire in early to mid-2024, and chief administrative officer Jeffery Hayward announced his intention to retire at the end of this year.
Benson has been with the organization for 21 years, serving in a range of key leadership posts, including chief financial officer and executive vice president of capital markets.
Hayward will leave after 36 years with the company, during which he led the multifamily business and national servicing organization.
Upon Benson’s departure, CEO Priscilla Almodovar, who joined the company last year, will assume the additional title of president. In this expanded capacity, she will directly manage the company’s two business units: single-family, led by executive vice president Malloy Evans, and multifamily, led by executive vice president Michele Evans.
General counsel Terry Theologides will succeed Hayward as chief administrative officer. The company also announced that Danielle McCoy will become the new general counsel and corporate secretary. McCoy will move up from senior vice president, deputy general counsel, and deputy corporate secretary.
Former Maine House Speaker Joins Avesta Housing
Ryan Fecteau has been named senior officer of policy and planning at Avesta Housing, the largest nonprofit affordable housing provider in Northern New England.
In the newly formed role, he will be part of Avesta’s real estate development team, supporting the organization’s advocacy efforts and working on municipal-level coordination to move new developments through key milestones.
Fecteau was most recently the senior adviser on community development and strategic initiatives for the Governor’s Office of Policy Innovation & the Future. During his tenure in the Maine Legislature, he served as speaker of the state House of Representatives as well as the House assistant majority leader.
Avesta has 3,200 apartments in more than 100 affordable properties throughout Maine and New Hampshire and more than 800 units in its real estate development pipeline.
PGIM Names Head of Agency Lending
Kelly Follain will be promoted to head of agency leading at PGIM Real Estate, effective Jan. 1.
The move follows Mike McRoberts’ decision to retire from the post March 31, 2024, announced the company.
Follain, chief operating officer, brings deep industry expertise to her new role with a career spanning 25 years. Prior to joining PGIM Real Estate in 2016, she was a vice president, underwriting and credit, with Freddie Mac.
Other leadership appointments include Jamila Houser, executive director, who has been promoted to chief operating officer for agency lending, and Rick Del Roio, executive director, who will assume the role of head of credit for agency while maintaining his responsibilities as chief underwriter for Fannie Mae and Freddie Mac. Stephanie Wiggins will continue as head of production for agency lending.
Ability Housing Announces Development and Engagement Director
Maureen Natkin has been named development and engagement director at Ability Housing, a nonprofit developer of affordable housing based in Jacksonville, Florida.
Bringing more than 13 years of nonprofit leadership experience to the position, she is responsible for driving the organization’s fund development and communications strategy. Her priorities include identifying appropriate revenue strategies and securing resources through private donations, philanthropic grants, and other charitable revenue sources to sustain and grow the organization’s capacity for service. Additionally, she guides outreach to internal and external stakeholders to share Ability Housing’s mission and impact.
Natkin previously served as the chief operating officer and philanthropic director of the World Affairs Council of Jacksonville. She previously worked in the affordable housing sector in Yonkers, New York, where she served as vice president of development for Westhab.
Horvath Joins Walker & Dunlop
Warren Horvath has been named managing director on the Walker & Dunlop affordable housing team. He is responsible for sourcing conventional, programmatic joint-venture equity for affordable housing owners and operators.
His more than 20 years of housing investment and finance experience includes oversight or direct involvement in more than $9 billion of housing transactions, representing more than 75,000 units.
Prior to joining Walker & Dunlop, Horvath served as senior vice president of capital markets advisory for a leading global real estate firm, where he advised affordable housing owner/operators on raising programmatic joint-venture equity, portfolio recapitalization and restructuring, and corporate-level strategic planning and capitalization in addition to advising investors looking to increase their allocations to the affordable housing space.
He has held leadership positions at The Michaels Organization, Mercy Community Capital, and The Community Development Trust.
Jonathan Rose Cos. Appoints Chief Financial Officer
Virginia “Virgie” Barreras has been named chief financial officer at Jonathan Rose Cos., a leading developer and investor in sustainable, affordable, and mixed-income multifamily real estate.
She will oversee the financial operations of the company with a purview that encompasses accounting, treasury, financial planning and analysis, tax, and corporate matters. As part of her duties as CFO, Barreras will be a member of the company’s management, investment, enterprise risk, and compliance committees.
Barreras most recently served as senior vice president of commercial finance and accounting at Brookfield Properties, where she created and managed global teams and demonstrated leadership in creating streamlined processes and best practices across the firm.
Aeon Names General Counsel
Tami Diehm has stepped down from Aeon’s board of directors to serve as general counsel of the nonprofit organization that develops, owns, and manages almost 6,000 affordable homes in the Twin Cities.
Diehm’s new position allows Aeon to continue to rely on her experience in real estate law and track record of working with nonprofit organizations.
She will also bring the support and expertise of the Winthrop & Weinstine law firm, where she is president.
