Fannie Mae has appointed Phillip Weber to head up its multifamily lending area, taking over from Richard Lawch, MortgageWire has learned.Mr. Lawch has taken on a new role related to the government-sponsored enterprise's community investment activities, according to a source at Fannie Mae. Another source reported that Mr. Weber told a recent Fannie Mae DUS conference that he will focus on "process improvements and new products," with the aim of having more of a customer focus. Mr. Weber, who is now senior vice president for multifamily lending, was most recently chief of staff for Dan Mudd, Fannie Mae's president and chief executive officer.
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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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