Shakeup at Fannie Mae: What Could It Mean for Mortgages and Real Estate Closings?
Posted by Nick Miller on
Changes at One of America's Most Important Housing Institutions
Fannie Mae has recently experienced a significant leadership shakeup, with roughly a dozen senior executives reportedly departing the organization. The changes affected areas including multifamily lending, capital markets, finance, affordable housing and economics.
That matters because Fannie Mae plays an enormous role in the American housing market.
Fannie Mae doesn't typically make mortgages directly to homebuyers. Instead, it purchases qualifying mortgages from lenders and packages many of them into mortgage-backed securities. This provides lenders with capital to make additional loans and helps keep mortgage credit flowing throughout the country.
So when major changes occur at…
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