Breaking News
  • Wells Fargo expects to cut as many as 26,500 jobs in the next 3 years

    It’s been a rough few years for Wells Fargo and the next few years won’t be much better, for as many as 26,500 of the bank’s employees. That’s because the bank announced Thursday that it expects to see a reduction in headcount of as much as 10% of the company’s workforce in the next three years. The company currently has approximately 265,000 employees, meaning as many as 26,500 could be out of a job by 2021. Click the headline to read more.

Jeffery Hayward

Jeffery Hayward

Jeff Hayward is Fannie Mae’s executive vice president and head of its multifamily business. For over 30 years, he has led various aspects of the business including credit, quality control, and risk management. Hayward is now responsible for the corporate affordable housing strategy. Fannie Mae is the largest provider of financing for multifamily apartments in the U.S. In 2016, Fannie Mae financed 351,000 low-income units, defined as those affordable to tenants earning up to 80% of the Area Median Income.


  • Fannie Mae EXCLUSIVE: The crisis in affordable rental housing, Part 2

    Working toward solutions
    With the Section 8 Housing Choice Voucher Program, low-income renters in the program pay 30% of their incomes toward housing, with the federally funded program paying the balance to the landlord up to a set maximum. Demand is so great, however, that thousands of families can linger for years on waitlists in some cities with no assurance they will ever receive a voucher. Created in the 1970s, it may be time to take a fresh look at the voucher system to ensure we're effectively serving today's households.
    Read More
  • Fannie Mae EXCLUSIVE: The crisis in affordable rental housing, Part 1

    How we got here
    Multifamily construction didn’t really rebound after the crash until 2013. Even still, it's playing “catch up.” In addition, construction of subsidized housing has declined as a percentage of all new multifamily construction and now represents only around a fifth of new construction annually – not enough to keep pace with demand. This is the first of a two-part EXCLUSIVE from Fannie Mae to readers of HousingWire.
    Read More