Fannie Mae has announced the hiring of S. Jean Hinrichs, who will join the mortgage giant in July as its chief internal auditor.Ms. Hinrichs, whose title will be senior vice president for internal audit, will be charged with conducting a risk assessment and then developing and executing a comprehensive audit program, Fannie Mae said. She will also be responsible for dealing with the outside auditor, Deloitte & Touche LLP, and the company's safety-and-soundness regulator, the Office of Federal Housing Enterprise Oversight. "A sound and effective internal audit function will ensure that internal audit activity is compliant with all professional and ethical standards as the company moves through the reaudit and restatement process," said Fannie Mae chairman Stephen B. Ashley. Ms. Hinrichs established a global internal audit function at Barclays Global Investors, San Francisco, where she was employed from 1997 to 2004, Fannie Mae said. She was previously vice president and general auditor of the Federal Reserve Bank of San Francisco. Fannie Mae can be found online at http://www.fanniemae.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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