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Freddie Mac Announces Jenkins to Assume Leadership of Multifamily Business Immediately

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MCLEAN, Va., Nov. 05, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that Deborah Jenkins will be named executive vice president and head of its Multifamily business, effective immediately. Jenkins also has assumed a role as member of the company’s Senior Operating Committee.

“Debby’s transition into her role as head of the Multifamily business has progressed very well, and I am pleased to announce that she will officially assume these duties effective immediately, rather than on the originally-planned January 1 date,” said Donald H. Layton, CEO of Freddie Mac. “Debby is dedicated to ensuring this growing segment of our company continues to be an industry leader, innovator and a critical financier of rental housing that is affordable to low- and moderate-income families.”

In September, Freddie Mac announced the retirement of CEO Donald Layton in the second half of 2019, the commencement of the CEO Succession Plan and the elevation of former head of Freddie Mac Multifamily, David Brickman, to president of the company.

Since 2010, Jenkins has led Multifamily Underwriting and Credit, overseeing all credit approvals and due diligence processes, asset level securitization activities, as well as credit policies and governance for all of Multifamily’s products. This prior-approval approach has produced delinquency rates among the very lowest in the industry while ensuring mortgage liquidity across economic environments. Jenkins has spearheaded enhancements in the company’s underwriting process specifically to support its securitization program, including its signature K and SB Deals.

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: Christopher Spina
703-388-7031
Christopher_Spina@FreddieMac.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ba7a95b9-36de-4757-b074-bdcdb1b59cea