Mortgage prognosticator Barry Habib joins Fannie Mae’s board

Barry Habib, the founder and CEO of MBS Highway and a go-to source for mortgage industry predictions, has been named to Fannie Mae‘s board of directors.

A recent filing with the Securities Exchange Commission (SEC) confirmed that Habib had been appointed to the board effective July 21. “The appointment of Mr. Habib is until the earlier of: (1) the next annual election of Board members; or (2) the date on which he resigns or is removed by U.S. Federal Housing FHFA, as conservator, while Fannie Mae is in conservatorship,” the filing reads.

The filing states that Habib will be paid “director compensation” for the role. Fannie Mae’s 10-K filing lists compensation for non-management directors at $160,000 per year. Directors may receive additional retainers based on their committee roles and positions.

It has not yet been determined which committees Habib will serve on or whether he’s involved in any transactions or relationships that must be disclosed under federal regulations.

Before starting MBS Highway, Habib published the Mortgage Market Guide and served as an executive at several lenders, including RPM Mortgage and Certified Mortgage.

Habib also speaks to and trains mortgage and real estate professionals. He has appeared on several podcasts discussing everything from market insights to his emotional battle with lymphoma.

Outside of the mortgage business, Habib is known as the lead producer of the Broadway show “Rock of Ages” and also produced Criss Angel’s “Mindfreak” at Planet Hollywood in Las Vegas.

“We’re so proud of Barry; he has a great understanding of the financial markets and how they relate to the mortgage industry,” Dan Habib, chief revenue officer for MBS Highway, said in a call with HousingWire. “I think he can bring a lot of insights to the board.”

The National Association of Mortgage Brokers (NAMB) also offered congratulations on Habib’s appointment.

“Barry Habib has been an invaluable voice in our industry for decades, and his appointment to the Fannie Mae Board represents a tremendous opportunity for the mortgage broker channel,” NAMB President Jim Nabors said. “His deep understanding of market dynamics and unwavering commitment to responsible lending practices make him an ideal addition to Fannie Mae’s leadership team.”

Fannie Mae did not respond to HousingWire‘s requests for comment.

Editor’s note: This story has been updated with comments from MBS Highway and NAMB.