PHIL WEBER
Former Senior Vice President of Multifamily, Fannie Mae
Now Executive Vice President of Real Estate, Forestar Group
Years in the Industry: 15
Much like Mike May at Freddie Mac, Phil Weber, who became senior vice president of multifamily for Fannie Mae in 2006, has been critical to providing liquidity to the apartment market as the credit world crumbled in the past couple of years. As sales ground to a halt in early 2009, Freddie provided $10.1 billion in debt financing for the multifamily rental housing market in the first half of 2009. Fannie is focused on stemming problems with existing troubled multifamily loans, while reinvigorating its MBS business and primarily providing liquidity to the multifamily market through MBS issuance. Approximately 71 percent of total production in the first half of 2009 was an MBS execution, compared to 17 percent in the first half of 2008. Though Weber left Fannie last September, he expects to continue to make his mark on the industry in his new role as executive vice president at Austin, Texas-based Forestar Group.
