INNOVATION AND TECH TRACK: AI, AVMs and Model Management from the Regulators’ Perspective

Tracy Stephan

Chief Artificial Intelligence Officer, Federal Housing Finance Agency (FHFA)

Stephan, a 25-year veteran in mortgage technology, serves as the Chief Artificial Intelligence Officer at the Federal Housing Finance Agency. In this role, she is responsible for managing AI risk, promoting AI innovation, and leading effective AI governance. Stephan additionally leads the Office of Financial Technology, a team responsible for supporting the Agency’s efforts to identify technology-driven development in housing finance, understand the associated risks, and facilitate the development of responsible innovation in FHFA’s regulated entities, which include Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Bank System, and Common Securitization Solutions. Tracy started with FHFA in 2023 after spending over 20 years with Fannie Mae in a variety of executive positions overseeing Enterprise Innovation, Data, Software Engineering, and Product Management, and Innovation. In this role she led complex digital transformation initiatives, oversaw mission-critical technology operations, and driven innovation at scale. Tracy is passionate about the responsible use of technology to solve problems and increase efficiency, particularly in housing finance. Tracy holds a bachelor’s degree in Decision Science and Information Systems from George Mason University.