Beverly J. Wilbourn joined the Housing Authority of the City of Annapolis as the Executive Director/CEO on Monday, May 1, 2017. Beverly Wilbourn has focused her career on the intersection of law, community development and poverty, with a dedicated expertise in affordable housing. As Vice President of Community Development at Fannie Mae, she led a premier, national affordable housing division at the nation’s largest housing finance corporation. At Fannie Mae she held various leadership positions that successfully increased housing opportunities for low income, minority and marginalized communities; attained hundreds of millions in revenue; achieved billion dollar cost saving alternatives to foreclosures during the housing crisis; and managed national initiatives. Beverly brings a unique blend of business and legal expertise in all aspects of real estate, housing and community development. In her legal career, she held positions as General Counsel for the District of Columbia Housing Authority (DCHA), a large public housing agency; Associate General Counsel for Fannie Mae; founding Principal of a law firm, Curry & Wilbourn; and Associate at a national law firm, Willkie Farr & Gallagher.
Highlights and Accomplishments as a Community Development Executive
- As Vice President for Credit Loss Mitigation at Fannie Mae during the housing crisis, Beverly led the corporation’s efforts to revitalize short sales as an alternative to foreclosure and reduced the credit losses for the corporation by over $2 billion. Beverly was named one of the “Influential Women of the Housing Economy” by HousingWire Magazine, related to her work during the housing crisis.
- As Vice President for Community Development at Fannie Mae, Beverly led a national team in multiple locations, devised housing solutions that leveraged local, state and national governments, non-profits and lenders to address affordable housing, homelessness and foreclosure issues, while generating over $400 Million in revenues, annually. She created Fannie Mae’s Mortgage Help Centers that streamlined loan modifications process and provided Fannie Mae’s direct outreach to borrowers; and created the Corporation’s First Look sale of foreclosed properties to public entities to assist neighborhood stabilization efforts that resulted in 5000 sales in the first 2 years.
Highlights and Accomplishments as a Real Estate and Housing Attorney
- As General Counsel of DCHA, Beverly supervised all legal matters and legal staff; revised regulations to address termination of housing assistance based on criminal activity at Section 8 housing; authored final decisions on all resident grievances, balancing housing policy with residents’ concerns; and resolved chronic backlogs of in-house legal service.
- As Associate General Counsel at Fannie Mae, Beverly was chief attorney for the management of a multi-billion dollar HUD insured portfolio of multifamily loans; and lead attorney for new product development for affordable lending for multifamily housing.
- At Willkie Farr & Gallagher, Beverly represented major corporations in all aspects of complex market rate real estate development and related corporate matters.
- At Curry & Wilbourn, Beverly represented an award winning public housing redevelopment, including negotiating homeownership opportunities for public housing residents. Currently, Beverly is Principal of her lawfirm, Wilbourn Law.
Georgetown University Law Center, Juris Doctor
The Ohio State University, Bachelor of Science, Landscape Architecture, Distinguished Alumni Award