New Multifamily VPs will Focus on Mission, Risk

Rhea-AI Summary

Freddie Mac Multifamily has announced the promotions of Corey Aber and Erlita Shively to vice presidents, enhancing its mission to serve the multifamily market. Aber will lead the Multifamily Mission, Policy & Strategy, while Shively will oversee Multifamily Counterparty Risk Management. Aber, a 17-year veteran, will focus on affordable housing initiatives, and Shively, with extensive experience since 1997, will manage lender compliance and risk activities. These promotions align with Freddie Mac's commitment to stability and affordability in the housing sector.

Positive

• Promotions of Corey Aber and Erlita Shively signal a commitment to internal talent development.
• Corey Aber's role focuses on affordable housing and underserved markets, enhancing Freddie Mac's mission.
• Erlita Shively manages strategic compliance, ensuring stability and liquidity across the Optigo® network.

Negative

• None.

Freddie Mac Multifamily Announces Promotions of Corey Aber and Erlita Shively

MCLEAN, Va., May 27, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today announced that it has named two new vice presidents that will better help the company serve its mission and manage its risks. Corey Aber is now vice president of Multifamily Mission, Policy & Strategy and Erlita Shively is now vice president of Multifamily Counterparty Risk Management.

“Corey Aber and Erlita Shively are both veterans of Freddie Mac Multifamily and their promotions reflect our commitment to grow talent and provide stability and affordability to the multifamily market,” said Kevin Palmer, head of Multifamily business at Freddie Mac. “I look forward to seeing Corey and Erlita’s ongoing contributions to the market leadership and innovation that is synonymous with Freddie Mac Multifamily.”

A 17-year veteran, Corey held a number of positions related to Multifamily’s mission, policy and strategic initiatives. In his new role, Corey will oversee the company’s mission-focused policies, initiatives and strategies including regulatory relations and new initiatives processes, all of which further our support of affordable housing and underserved markets. This includes leading all aspects of Multifamily’s Equitable Housing efforts. Aber previously played an integral role in the development of the Green Advantage® suite of offerings and previously worked on Freddie Mac’s Targeted Affordable Housing Team. He holds a bachelor’s degree in history from Brown University.

Erlita joined Freddie Mac in 1997 as a senior auditor and has held a number of positions throughout Freddie Mac, including director of Customer Compliance Management for Multifamily. Currently, Erlita leads a team charged with setting the strategic vision for the division’s servicer relationship and lender compliance management. Her team is responsible for the Multifamily Seller/Servicer Guide and carry out annual risk management activities to maintain stability and ensure liquidity across the Optigo® network. Erlita has a Bachelor of Business Administration in accounting from the College of William & Mary and is a certified public accountant.

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
Erin Mancini
(703) 903-1530
Erin_Mancini@FreddieMac.com

FAQ

Who are the newly promoted vice presidents at Freddie Mac Multifamily?

Corey Aber and Erlita Shively have been promoted to vice presidents.

What roles will Corey Aber and Erlita Shively take on at Freddie Mac?

Corey Aber will be vice president of Multifamily Mission, Policy & Strategy, and Erlita Shively will be vice president of Multifamily Counterparty Risk Management.

What is Freddie Mac Multifamily's commitment to the housing market?

Freddie Mac Multifamily is committed to providing stability and affordability in the multifamily housing market.

What experience do the new vice presidents at Freddie Mac have?

Corey Aber has 17 years of experience with Freddie Mac, while Erlita Shively has been with the company since 1997.

What is the focus of Corey Aber's new role?

Corey Aber will oversee affordable housing initiatives and the company’s mission-related policies.