Fannie Mae appoints tech executive to board of directors

Former Rivian CIO to bring data science expertise to the GSE

Fannie Mae appoints tech executive to board of directors

Fannie Mae has announced that it has appointed Diane Lye, a technology and financial services expert, to its board of directors.

"We are very pleased to welcome Diane to the Fannie Mae board of directors," said Michael Heid, chair of the board. "Her deep data science and technology expertise will provide rich insights as the company continues to advance the mortgage experience for housing market participants."

The government-sponsored enterprise recently upgraded its Income Calculator to ease income verification for self-employed borrowers. The new web-based calculator allows lenders and loan originators to verify income at no additional cost.

Lye brings over three decades of wide-ranging technology leadership to Fannie's board. Most recently, she served as chief information officer at electric vehicle startup Rivian Automotive from October 2022 to December 2023, spearheading IT strategy and infrastructure.

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Prior to Rivian, she spent over six years at Capital One in senior technology roles, including executive vice president and chief information officer for Card Technology from 2019 to 2022. She led teams responsible for data, machine learning, risk analytics and finance systems.

Lye also held various leadership roles at major financial institutions, such as Citigroup, Bank of America, and Amazon's cloud computing division.

“Diane brings extensive technology and financial services knowledge to our talented and diverse Fannie Mae board of directors,” Priscilla Almodovar, Fannie Mae’s president and chief executive officer, said in a media release. “We will benefit from her broad technology experience as we continue to strengthen systems that support our risk management efforts while identifying and developing emerging technology opportunities to support sustainable access to mortgage credit.”

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