Fannie Mae creates new C-suite role, promotes Jeff Hayward

As the current civil rights movement puts a spotlight on racial inequities, corporate pledges for better inclusion and support have proliferated.

On Aug. 18, Fannie Mae took a step towards improving representation. The GSE announced its new C-suite position of chief administrative officer and said it would promote vice president and head of multifamily, Jeff Hayward, into the role. The move makes Hayward the only Black man presently on Fannie's leadership team.

The housing industry, in particular, has a major role to play in addressing the racial wealth gap perpetuated by disparate homeownership rates, the agency said in its announcement.

"The new CAO position was created to oversee affordable housing, green financing, enterprise workplace and ESG, human resources, diversity and inclusion that will support our mission in new and more holistic ways," a Fannie Mae spokesperson said in a statement to NMN.

"Jeff is a nationally recognized voice on affordable housing and brings more than three decades of Fannie Mae business experience and extensive business expertise along with longstanding focus on our mission to this new role and will help Fannie Mae achieve even more in these areas."

Hayward has worked for the government-sponsored enterprise for 33 years. Michele Evans, a Fannie Mae veteran of 28 years and formerly the multifamily COO, will step into Hayward’s old role as head of multifamily.

"Michele is a seasoned leader and her knowledge of our business is unparalleled," Hayward said in his announcement. "In her nearly 30 years at Fannie Mae, she’s held positions across the spectrum of Fannie Mae multifamily, and I know she's eager to bring all that knowledge to bear as leader. Although it's been said too often, these are unprecedented times, and they call for strong, visionary leadership. I am confident that Michele is the right person for the job at the right time."

Recently, other major entities in the mortgage space have made big leadership changes, including Kristy Fercho joining Wells Fargo as head of lending and Dana Wade taking the role as commissioner of the Federal Housing Administration.