MCLEAN, Va., May 03, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today appointed company veteran Kevin Palmer to head its multifamily business, effective May 9, 2022. He will serve as a member of the company’s Senior Operating Committee and report to the company’s president, Mike Hutchins.
Palmer has served at Freddie Mac in a variety of positions since 2001, most recently as senior vice president for Single-Family Portfolio Management.
“Over the course of his more than two decades at Freddie Mac, Kevin Palmer has demonstrated broad knowledge of the mortgage industry, a deep understanding of our company and an unyielding commitment to our mission. These qualities make him the right leader to take our multifamily business forward,” said Michael DeVito, CEO of Freddie Mac. “Freddie Mac Multifamily has a long and successful track record of supporting affordable rental housing, managing risk and innovating to support our customers. Kevin’s background and experience will help us continue that important work.”
In previous roles, Palmer had broad responsibility for Freddie Mac’s single-family portfolio, overseeing pricing, servicing, credit risk transfer, and various other capital markets and risk management activities.
“I’ve had the pleasure of working alongside Kevin for several years—his leadership, capital markets expertise and commitment to Freddie Mac make him uniquely qualified to lead our multifamily business,” said Mike Hutchins, president of Freddie Mac. “Kevin will bring these and other qualities to this critically important role. I look forward to working more closely with him to better serve our mission and expand our track record as a leading financier of affordable rental housing across the United States.”
Palmer holds an MBA in finance from Virginia Tech and a Bachelor of Arts in economics from Weber State University.
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, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.