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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 44 T H E P O I N T M alloy Evans serves as Fannie Mae's EVP and Head of Single-Family, responsible for all facets of the company's Single-Family Division, including leading the teams responsible for maintaining Fannie Mae's single-family mortgage acquisition and servicing standards, providing liquidity to the single-family mortgage market, and facilitating equitable and sustainable access to homeownership and quality affordable rental housing across America. Throughout his near-two decades with the government-sponsored enterprise (GSE), Evans has served in various roles, most re- cently as SVP and Single-Family Chief Credit Officer—responsible for first-line credit risk management from mortgage acquisition through disposition. He has also held other leadership roles overseeing risks across the Single-Family mortgage life cycle, including the credit, counterparty, operational, and reputational risks and performance of Fannie Mae's Single-Family lenders and servicers, as well as the company's administration of the Treasury Department's Making Home Af- fordable (MHA) program. He began his career with Fannie Mae as an attorney in the company's legal depart- ment, serving as the principal counsel supporting the GSE's implementation of gov- ernment initiatives under the MHA program, and advising the business on the company's multi-class securitization program. He has a Bachelor of Science in chemistry from David- son College and a Juris Doctor from Wash- ington and Lee University School of Law. MortgagePoint Magazine had the oppor- tunity to speak with Evans about the GSEs' role in today's mortgage marketplace, and the knowledge both Fannie Mae and the indus- try learned from past major events impacting the overall mortgage marketplace. F e a t u r e d C o n v e r s a t i o n s W i t h M o r t g a g e ' s B e s t a n d B r i g h t e s t CHANGING THE CONVERSATION Fannie Mae's Malloy Evans discusses how lessons learned from the 2008 housing crisis are being applied today toward the GSE's goal of keeping more Americans in their homes. B y E R I C C . P E C K Q: How did you first get involved with Fannie Mae? I started my career as an attorney, work- ing with the law firm Hunton & Williams LLP in Washington, D.C. as a securitization associate. During my time at the firm, Fannie Mae was a client, and at the end of 2003, they needed assistance to get through end-of-year volumes. My first interaction with Fannie Mae was supporting the firm on securitiza- tion work. That turned into a permanent opportunity, and I officially joined Fannie Mae in April 2004. Q: What was the state of the housing industry when you first joined Fannie Mae back in 2004? There was a lot more private capital competing with the government-sponsored enterprises (GSEs) through a very robust private-label securities market. There also were different mortgage products being offered to consumers that are not really prevalent in today's market, like Alt-A and subprime mortgages. Q: Having experienced the mortgage meltdown of the subprime crisis of 2007/2008, what lessons have you taken from that period that can be applied to today's housing market? There are a couple ways to address that question. One is, when that event transpired, a large number of homeowners were im- pacted across the country—not only Fannie Mae homeowners, but across the broader housing ecosystem. We wanted to help homeowners avoid foreclosure and learned we needed to reach them quickly and early in the process. If homeowners experienced a problem, it was critical to engage with them early in their delinquency, to ensure they were aware of their support options and the possibility of keeping their home. The longer a homeown- er waits to seek help, the more likely they are to give up hope. The second thing was to ensure borrow- ers had adequate options and make it easy for them to access those options. We under- took a wholesale restructuring of the loss mitigation solutions that were available, then created the infrastructure to deliver those Malloy Evans EVP and Head of Single-Family, Fannie Mae