Fannie Mae plans to put in place a new head of its single-family mortgage business on June 1 ahead of a retirement set to take place at the end of the month. The government-sponsored enterprise said Karen Pallotta, Fannie's senior vice president, product acquisition strategy and support, is slated to take the post at that time. Thomas A. Lund, executive vice president, single-family mortgage business, plans to retire from the company on June 30.
Smaller builders felt the greatest impact of material cost increases, as new Trump administration tariffs add a layer of worry for the construction industry.
The national delinquency rate dropped 16 basis points to 3.39% last month, according to the Intercontinental Exchange's latest first look report.
The product expansion comes at a time when not just non-agency issuance is expected to have a record year, but other lenders are getting into wholesale.
Seven federal agencies rescinded a 2022 guidance that encouraged creditors to offer special purpose credit programs to underserved communities.
Price gains slowed to a crawl from May to June, specifically in the West, but Central and East Coast regions showed steady year-over-year gains.
The company last week introduced a temporary shareholder rights plan to curb any attempt by Garg to use supervoting shares and reinstall himself as CEO.