Freddie Mac Multifamily Names Two Vice Presidents of Production

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) has appointed Steve Lineberger and Meg McElgunn as vice presidents of Production & Sales. Steve will manage the Western and Central regions, while Meg will lead the Northeast and Southeast regions. Richard Martinez, senior vice president of Multifamily Production & Sales, praised their leadership and experience in the multifamily sector. Lineberger has been with Freddie Mac since 2012, while McElgunn has a long history with the firm, focusing on multifamily small balance loans.

Positive

• Appointment of experienced leaders strengthens management team.
• Steve Lineberger and Meg McElgunn have extensive experience in multifamily business.

Negative

• None.

MCLEAN, Va., Jan. 04, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today announced that Steve Lineberger and Meg McElgunn have been named vice presidents of Production & Sales. In their new roles, Steve will oversee the Western and Central regions and Meg will lead the Northeast and Southeast regions.

“Steve and Meg are both exceptionally strong leaders who bring unique talents and extensive experience in the multifamily business,” said Richard Martinez, senior vice president of Multifamily Production & Sales at Freddie Mac. “I look forward to Steve and Meg’s ongoing contribution to our success as we strive to innovate and grow our business going into the new year.”

Steve was formerly the senior director of Conventional Production & Sales for the Western region. He joined Freddie Mac Multifamily in 2012, having previously worked in both asset management and residential property brokerage. Steve earned an MBA with a focus in Real Estate Finance at the University of Southern California, Marshall School of Business. He also holds a Bachelor of Arts in Applied Mathematics and Economics from the University of California, San Diego.

Meg most recently served as the senior director of the Multifamily Small Balance Loans (SBL) team, leading that business nationwide. She has a long history with Freddie Mac, having worked with us from 2008-2012 in the Central region, focused on Conventional, Seniors and Student Housing, then joining us again in 2018 to focus on the SBL business. Meg has a Bachelor of Business Administration in Real Estate and Urban Land Economics from the University of Wisconsin-Madison.

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: Mike Morosi
(703) 918-5851
Michael_Morosi@FreddieMac.com

FAQ

Who has been appointed as vice presidents at Freddie Mac Multifamily?

Steve Lineberger and Meg McElgunn have been named vice presidents of Production & Sales at Freddie Mac Multifamily.

What regions will Steve Lineberger and Meg McElgunn oversee at Freddie Mac?

Steve Lineberger will oversee the Western and Central regions, while Meg McElgunn will lead the Northeast and Southeast regions.

What is the significance of Steve Lineberger's and Meg McElgunn's appointments for FMCC?

Their appointments are expected to enhance Freddie Mac's multifamily business operations and leadership.