MCLEAN, Va., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today announced that Peter Lillestolen has been named Vice President, Production & Sales of Targeted Affordable Housing (TAH). In his new role, Peter will oversee the TAH retail business, Low-Income Housing Tax Credit (LIHTC) Equity, Structured Transactions for both Conventional and TAH, as well as Seniors Housing.
“Peter is a strong, innovative leader, ready to meet the challenges of Multifamily’s mission-critical businesses,” said Steve Johnson, senior vice president for Multifamily Production & Sales. “Peter has a proven ability to make strategic, forward-looking decisions and to meet and anticipate the evolving needs of the affordable market. We are grateful for his steady leadership and his drive and passion for Multifamily.”
In his 12 years with Freddie Mac, Lillestolen has built a depth and breadth of experience across the Multifamily Division, starting as an analyst in Capital Markets and later in various leadership roles on the production team. He most recently led the LIHTC Equity and Seniors Housing businesses while serving as a co-lead for TAH. His leadership was instrumental in helping Freddie Mac exceed its affordable housing goals in 2022, both in the core retail business and low-income housing areas. Lillestolen was recently selected as a 2023 Rising Star by HousingWire.
Lillestolen holds a Master of Professional Studies in Real Estate Finance from Georgetown University and a Master of Science in Finance from Johns Hopkins University. He received a bachelor’s degree in finance from James Madison University.
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’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More:
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