Freddie Mac Announces Kevin Palmer to Lead the Company’s Multifamily Business

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) appointed Kevin Palmer as the head of its multifamily business, effective May 9, 2022. Palmer, a company veteran since 2001, previously served as senior vice president for Single-Family Portfolio Management. His appointment aims to enhance Freddie Mac's mission of supporting affordable rental housing. Michael DeVito, CEO, emphasized Palmer's extensive knowledge of the mortgage industry as key for leading the multifamily sector. Freddie Mac continues its commitment to making housing accessible and affordable across the U.S.

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• Kevin Palmer's extensive experience at Freddie Mac since 2001 may enhance leadership in the multifamily sector.
• Freddie Mac's ongoing commitment to affordable rental housing could strengthen its market position and customer trust.

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• None.

MCLEAN, Va., May 03, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today appointed company veteran Kevin Palmer to head its multifamily business, effective May 9, 2022. He will serve as a member of the company’s Senior Operating Committee and report to the company’s president, Mike Hutchins.

Palmer has served at Freddie Mac in a variety of positions since 2001, most recently as senior vice president for Single-Family Portfolio Management.

“Over the course of his more than two decades at Freddie Mac, Kevin Palmer has demonstrated broad knowledge of the mortgage industry, a deep understanding of our company and an unyielding commitment to our mission. These qualities make him the right leader to take our multifamily business forward,” said Michael DeVito, CEO of Freddie Mac. “Freddie Mac Multifamily has a long and successful track record of supporting affordable rental housing, managing risk and innovating to support our customers. Kevin’s background and experience will help us continue that important work.”

In previous roles, Palmer had broad responsibility for Freddie Mac’s single-family portfolio, overseeing pricing, servicing, credit risk transfer, and various other capital markets and risk management activities.

“I’ve had the pleasure of working alongside Kevin for several years—his leadership, capital markets expertise and commitment to Freddie Mac make him uniquely qualified to lead our multifamily business,” said Mike Hutchins, president of Freddie Mac. “Kevin will bring these and other qualities to this critically important role. I look forward to working more closely with him to better serve our mission and expand our track record as a leading financier of affordable rental housing across the United States.”

Palmer holds an MBA in finance from Virginia Tech and a Bachelor of Arts in economics from Weber State University.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:
Christopher Spina
709-388-7031
Christopher_Spina@FreddieMac.com
Mike Morosi
703-918-5851
Michael_Morosi@FreddieMac.com

FAQ

What is the significance of Kevin Palmer's appointment at Freddie Mac?

Kevin Palmer's appointment to head Freddie Mac's multifamily business signifies a strategic move to enhance leadership in affordable rental housing, leveraging his two decades of experience.

When did Kevin Palmer start his role at Freddie Mac?

Kevin Palmer's new role as head of the multifamily business at Freddie Mac becomes effective on May 9, 2022.

What are Kevin Palmer's previous roles at Freddie Mac?

Before his new position, Kevin Palmer served as senior vice president for Single-Family Portfolio Management, overseeing various key activities in the organization.

How does Freddie Mac support affordable housing?

Freddie Mac supports affordable housing by providing mortgage capital to lenders, enhancing access and affordability for homebuyers and renters.

What is Freddie Mac's mission?

Freddie Mac's mission is to make homeownership and rental housing more accessible and affordable for families and individuals across the United States.