Blend, the Silicon Valley fintech vendor, announced Tuesday that recently departed Fannie Mae CEO Timothy Mayopoulos will take over as company president. Mayopoulos also will join the firm’s board.

In what must come as a relief for Fannie Mae, a three-judge panel of the Ninth Circuit Court of Appeals earlier this month ruled that the enterprise is not a credit reporting agency as defined by the Fair Credit Reporting Act (FCRA).

The supply of Freddie Mac single-family mortgage servicing rights grew at more than twice the rate of increase in Fannie Mae product during 2018, according to a new Inside the GSEs analysis and ranking. [Includes two data charts.]

Fannie Mae has revised the maximum number of allowable days for routine foreclosure proceedings in 20 jurisdictions. For servicers in 16 states plus New York City, the number of days has been increased, while in three states the permitted time frame has been decreased.

George W. Haywood, a successful private investor and friend of former President Obama, stepped down from the board of Fannie Mae last month.