Fannie Mae has expanded its Office of the Chairman to include executive vice president and chieffinancial officer J. Timothy Howard and announced the appointment of 21 vice presidents. Mr. Howard, who joined the company in 1982, oversees Fannie Mae's mortgage portfolio business and itsfinancial and corporate interest rate risk management. The other members of the office are Franklin D.Raines, chairman and chief executive officer; Daniel H. Mudd, vice chairman and chief operatingofficer; and Jamie S. Gorelick, vice chair. Fannie Mae's board of directors also appointed Rebecca R.Culberson senior VP for regional management and housing partnerships; J. Brian Graham, SVP, creditportfolio; Renie Y. Grohl, SVP and deputy general counsel; Pamela Johnson, SVP for single-familymortgage business; Richard S. Lawch, SVP for multifamily capital markets; Andrew McCormick, SVP forportfolio management; William M. Pugh, SVP for enterprise systems management; and Phillip Weber, SVPof the American Communities Fund. Fannie Mae also named Jill M. Blickstein VP for regulatory policy;Andrew Bon Salle, VP for portfolio management; Jonathan R. Boyles, VP for financial accounting;Matthew W. Douthit, VP for portfolio management; Gina A. Hough, VP and deputy general counsel; G.Scott Lesmes, VP and deputy general counsel; Timothy M. McLuckie, VP for portfolio analytics; Edwin B.Neill, VP for tax credit investments; Dror Oppenheimer, VP for asset development management; WilliamF. Quinn, VP and head of risk management strategies; Eric Rosenblatt, VP for credit policy; William B.Senhauser, VP and deputy general counsel; and Deborah A. Wilson, VP for multifamily strategy.
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Fewer consumers applied for government-backed loans last week, with average interest rates for Federal Housing Administration loans stuck in the high 6% range.
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Broward County in Florida has the highest property tax increase since 2019, at 56.80%.
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Cases involving accusations of redlining, kickbacks, underpaid employees and more swept across the mortgage industry in recent months.
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Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.
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Submit your production volume from last year to be considered among the top in your field. The deadline for submissions is Feb. 28, so don't dally!
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The Consumer Financial Protection Bureau released a proposed version of the consent order on Jan. 17 and the company involved said it was finalized that day.
January 21