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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Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.
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AD Mortgage's news survey finds 82% expect AI to transform the industry, and relationship skills will decide who wins in 2027.
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An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.
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If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.
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Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.
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The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
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