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Senior Leadership Team

MassHousing's expert staff has experience in all aspects of affordable homeownership and multifamily financing.

Chrystal Kornegay

Chrystal Kornegay, Executive Director

Chrystal Kornegay became MassHousing’s executive director in February 2018, bringing with her extensive experience and expertise in affordable housing, community development and government.

Immediately before joining MassHousing, Ms. Kornegay served as the Undersecretary of Housing and Community Development for the Commonwealth of Massachusetts. Prior to that, she was the President and Chief Executive Officer of the community development corporation Urban Edge, and a project manager for The Community Builders.

Ms. Kornegay is a graduate of the Achieving Excellence Program at Harvard University’s Kennedy School of Government. She holds a Master’s Degree in City Planning from the Massachusetts Institute of Technology and a Bachelor of Arts from Hunter College.

Rachel Madden

Rachel Madden, Chief Operating Officer

Rachel Madden oversees the overall administration of MassHousing. Prior to joining the Agency. Ms. Madden was the Undersecretary for the Executive Office for Administration and Finance. She previously held roles as the Director of Administration and Finance and Chief Financial Officer for the Massachusetts Water Resources Authority; Deputy Registrar at the Registry of Motor Vehicles; and Director of Field Operations for the Department of Revenue Child Support Enforcement Division. Ms. Madden is a graduate of Boston Latin School and the University of Rochester in New York.

Charles Karimbakas

Charles Karimbakas, Chief Financial Officer

Charles Karimbakas is an accomplished senior public finance professional with extensive success in structuring and issuing municipal debt in the housing and transportation sectors. He has a record of collaborative relationships with investors, ratings agencies, underwriters, attorneys, and organizational decision-makers.

At MassHousing, Mr. Karimbakas has managed more than $1 billion of issuance annually through multiple indentures, complex tax analysis and often challenging financial environments, including a significant restructuring of the Agency’s debt portfolio during the 2008 financial crisis, without interruption to capital markets access. Prior to joining MassHousing, Mr. Karimbakas held senior finance roles in transportation within the Commonwealth. He earned B.A. in Economics from the University of Vermont and an MBA from Northeastern University.

Mounzer Aylouche

Mounzer Aylouche, Vice President of Homeownership Programs

Mounzer Aylouche oversees all aspects of MassHousing’s homeownership business, including production, lending operations and servicing. He has extensive experience in the home mortgage lending industry, having held positions in loan servicing, secondary marketing, loan origination, and senior management. At MassHousing, he previously served as secondary marketing officer, relationship manager and manager of HomeOwnership Business Development. Mr. Aylouche is the 2017 Chairman of the Massachusetts Mortgage Bankers Association (MMBA), and the past president of the organization’s charitable arm, the MMB Foundation. He holds a Bachelor’s degree from the University of Massachusetts at Lowell, and an MBA from Southern New Hampshire University.

Myra Carmona

Myra Carmona, Vice President of Talent and Culture

A seasoned professional with more than 15 years of experience in Human Resources, Myra Carmona oversees MassHousing’s investment in staff development and organizational improvement; drives employee engagement, inclusion and recognition; and leads the Agency’s learning and professional development programs. Prior to joining MassHousing, Ms. Carmona led a human resources team for the City of Manassas Park, Virginia, working closely with the city’s police and fire departments in recruitment, leadership development and performance management. As Director of Human Resources at The Community Builders, she developed a recruitment process; managed employee relations, performance management systems and a mentoring program; and helped to create efficiencies with the use of technology.

Paul Hagerty

Paul Hagerty, Director of Internal Audit

As Director of Internal Audit, Paul Hagerty develops, organizes and directs MassHousing’s Internal Audit plan. He is responsible for all internal audit activities and for coordinating audit practices and procedures with MassHousing’s external auditors. Prior to joining MassHousing, Mr. Hagerty was at Pannell Kerr Forster PC, where he served as an audit manager on public and private engagements including many years performing cost certification audits on the "Big Dig". Mr. Hagerty serves on many local boards including Chair of St. Bridget's School Board for over ten years. He also served as an elected member of the Abington School Committee. Mr. Hagerty received a B.S. in Accounting from Stonehill College. He is a Certified Internal Auditor (CIA) and a member of the Institute of Internal Auditors.

Mark Teden

Mark Teden, Vice President of Multifamily Programs

Mark Teden oversees the origination, underwriting and servicing of MassHousing’s multifamily loans, leads the development of new loan products and business opportunities, and serves as the primary liaison for the Agency’s multifamily development and management business lines. Immediately prior to joining MassHousing, he served as the Managing Principal and Chief Operating Officer for Bruner/Cott & Associates, Inc., and prior to that as Executive Vice President at Cambridge Savings Bank. In addition, Mr. Teden served as a Board member at Homeowner’s Rehab, Inc., for over 20 years. Mr. Teden earned an undergraduate degree in Finance from the University of Massachusetts at Amherst and a Master’s in Business Administration from Northeastern University.