Fannie Mae

The former senior vice president and credit officer takes over the role that Andrew Bon Salle left at the end of 2020.

In spite of an improving economy, acute competition and supply scarcity soured homeshoppers on the purchase market in April, according to Fannie Mae.

The government sponsored enterprise’s latest forecast calls for a nearly $4 trillion year for 2021.

Vaccinations and a third round of stimulus payments are boosting consumers views on the housing market, according to Fannie Mae.

Also: Fannie sets early limits, servicing retention rates fade to record lows and loan broker inquiries rise as competition heats up.

After a booming 2020, more mortgage lenders than ever before expect diminishing margins in the coming months as climbing interest rates set up heightened competition.

Some applaud the agency's recent delay of the mandatory compliance date for a new Qualified Mortgage standard. Others say it leads to more uncertainty for lenders, opens the door to additional changes and enables some companies to loosen their underwriting.

The agency issued a proposal moving the compliance date for the Qualified Mortgage rule revamp to October 2022.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The former president and CEO of GE Capital’s restructuring and strategic ventures group was named executive vice president and chief risk officer soon after the departure of Fannie EVP Andrew Bon Salle.