Fannie Mae has announced that Dr. Diane N. Lye has been appointed to its Board of Directors. Dr. Lye brings years of technology and financial services expertise to the GSE’s Board as it helps Fannie Mae fulfill its mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America.
“We are very pleased to welcome Diane to the Fannie Mae Board of Directors,” said Michael J. Heid, Chair of Fannie Mae’s Board of Directors. “Her deep data science and technology expertise will provide rich insights as the company continues to advance the mortgage experience for housing market participants.”
Rich with industry experience
Dr. Lye has more than 30 years of experience in data science and technology. Most recently, she served as CIO at Rivian Automotive Inc., an electric vehicle manufacturer, from October 2022 to December 2023.
Previously, Dr. Lye was at Capital One, where she served as EVP and CIO for Card Technology, from May 2019 to September 2022, and as SVP of Enterprise Data, Machine Learning, Risk and Finance Technology, from October 2016-May 2019. Prior to joining Capital One, Dr. Lye held a variety of technology-centered leadership roles at Amazon, Citigroup, and Bank of America.
“Diane brings extensive technology and financial services knowledge to our talented and diverse Fannie Mae Board of Directors,” said Priscilla Almodovar, Fannie Mae’s President and CEO. “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.”
GSE’s latest addition
Fannie Mae recently announced an enhancement to its Income Calculator tool to help mortgage professionals serve the growing number of mortgage applicants in the U.S. who are self-employed and do not have traditional sources of income. Available now on FannieMae.com, lenders and other loan originators can leverage Fannie Mae’s web-based Income Calculator for immediate calculation of self-employment income at no additional cost.
The new interface provides an additional, free avenue to access Fannie Mae’s existing Income Calculator functionality, which the company introduced in 2023 to help lenders streamline their processes and reduce loan defects. Lenders also still have the option to partner with one of Fannie Mae’s authorized third-party technology service providers to automate the calculation of self-employment income streams during the underwriting process. With either solution, the lender benefits from an accurate income calculation and the resulting reduced risk of loan repurchase.
