Almodovar started her career at the New York-based law firm
White & Case, where she served as a corporate finance partner for 14 years. In 2005, she joined
Eliot Spitzer's New York gubernatorial campaign as deputy policy director. After the
election, Almodovar took leadership of the
New York State Housing Finance Agency and the
State of New York Mortgage Agency. In 2010, Almodovar joined JPMorgan Chase as a managing director, and went on to lead two business segments: community development banking and real estate banking. In 2016,
Affordable Housing Finance identified Almodovar as one of the most influential women in the real estate industry. Almodovar joined
Enterprise Community Partners as its president and chief executive officer in 2019. In 2020, she oversaw the creation of Enterprise's five-year, $3.5 billion affordable housing initiative. In February 2021, Almodovar joined the board of directors of
Vereit, a Phoenix-based real estate investment trust. In November 2021,
Realty Income acquired Vereit, and Almodovar joined Reality Income's board. Almodovar became the chief executive officer of
Fannie Mae in 2022. ==Personal life==