Greg C. Smith has been elected to the board of directors of Fannie Mae and appointed to the board's audit and compensation committees.Mr. Smith, 53, is executive vice president of Ford Motor Co. and its president for the Americas. He has been with Ford since 1973, and has held executive posts that included chairman and chief executive officer of Ford Motor Credit Co., Fannie Mae reported. The government-sponsored enterprise can be found online at http://www.fanniemae.com.
The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
