Freddie Mac Multifamily Names Jason Griest Vice President of Multifamily Securitization

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) has appointed Jason Griest as Vice President of Multifamily Securitization. He will lead the structuring team, overseeing the Multifamily loan pipeline and credit risk transfer executions, including various deal types. Griest, a seasoned professional with over 20 years of experience, has been with Freddie Mac since 2013 and has contributed to innovative products such as SOFR bonds. Freddie Mac remains a leader in multifamily housing finance, ensuring affordable rental units for low-to-moderate income families.

Positive

• Appointment of Jason Griest as VP of Multifamily Securitization, indicating strategic leadership.
• Griest's experience in developing innovative credit risk transfer products could enhance Freddie Mac's market position.
• Continued focus on affordable housing, with over 90% of funded rental units accessible to low-to-moderate income families.

Negative

• None.

MCLEAN, Va., May 25, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today announced that Jason Griest has been named Vice President of Multifamily Securitization. In his new role, Jason will lead the structuring team which includes managing the Multifamily loan pipeline and Multifamily credit risk transfer executions including K-Deals®, SB-Deals®, ML-Deals, Re-REMICs and PC REMICs.

“Jason has been an instrumental and trusted leader in the capital markets team and externally with investors for years,” said Robert Koontz, Senior Vice President for Multifamily Capital Markets. “In this new role, Jason’s results-driven approach will continue to strengthen Freddie Mac’s innovative impact and credit risk offerings in the housing market.”

Jason is a veteran of the financial services industry with more than 20 years of experience. He’s been with Freddie Mac Multifamily since 2013, and previously held capital markets and securitization roles with Fannie Mae, Bank of America and JP Morgan Chase. He has played a key role in the development of new and innovative Freddie Mac credit risk transfer products such as SOFR bonds and impact offerings, as well as partnering on the execution of the newly reengineered Multifamily Structured Credit Risk (MSCR) Notes. He received his Bachelor of Science in Finance from Louisiana State University and his Master of Business Administration in Finance from Loyola University, New Orleans.

Freddie Mac Multifamily is the nation's multifamily housing finance leader. Historically, more than 90% of the eligible rental units we fund are affordable to families with low-to-moderate incomes earning up to 120% of area median income. Freddie Mac securitizes about 90% of the multifamily loans it purchases, thus transferring the majority of the expected credit risk from taxpayers to private investors.

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 and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.

MEDIA CONTACT: Kate Hartig
703-903-3802
Kate_Hartig@FreddieMac.com

FAQ

Who has been appointed as the new Vice President of Multifamily Securitization at Freddie Mac?

Jason Griest has been named Vice President of Multifamily Securitization at Freddie Mac.

What are Jason Griest's responsibilities as Vice President at Freddie Mac?

He will lead the structuring team, managing the Multifamily loan pipeline and credit risk transfer executions.

What has been Jason Griest's professional background before joining Freddie Mac?

Griest has over 20 years of experience, including roles at Fannie Mae, Bank of America, and JP Morgan Chase.

How does Freddie Mac contribute to affordable housing?

Freddie Mac funds more than 90% of eligible rental units that are affordable to low-to-moderate income families.

What innovative products has Griest helped develop at Freddie Mac?

He has played a key role in developing SOFR bonds and Multifamily Structured Credit Risk Notes.