Fernando became lord of Orduña and Balmaseda in 1322, after the death of his brother, Lope Díaz IV de Haro who died without leaving any descendants.
Fernando Diaz was the son of Diego López V de Haro, who rose to power after forcibly taking the title over Lordship of Biscay.
The exact date of Fernando's birth is unknown but it is known that he married in 1315[citation needed] with Maria of Portugal, Lady of Meneses and Orduña, daughter of the infante Alfonso de Portugal and his wife, Violante Manuel, sister of Juan Manuel, Prince of Villena.
At the death of his brother in 1322, Fernando Diaz inherited title over Orduña and Balmaseda.
It appears that he passed these titles on to his son, but that they eventually wound up in the hands of the monarchy, and this once powerful ancient bloodline of the House of Haro falls from prominence.