Vice President, Finance
Bill is the chief financial officer of Freddie Mac Multifamily, responsible for our accounting and financial reporting. Bill and his team partner with corporate and Multifamily stakeholders to provide integrated results and forecasts of our business, represent our performance in corporate financial statements, and report our progress to the Board of Directors and corporate senior management. Bill is a certified public accountant and holds the chartered financial analyst designation.
A Message from the Multifamily
Chief Financial Officer
How is our business performing? On this page, you will find results for key aspects of our business. We had a very strong third quarter as we continued to focus on our mission. Below, we describe our year-to-date results through the most recent quarter. To the right is a chart that reports our New Business Activity on a monthly basis. Feel free to contact me for more information or clarification.
2016 through September 30
Freddie Mac Multifamily continued to generate strong returns for U.S. taxpayers.
YTD 2016 was the highest three quarters YTD of production we’ve seen for Multifamily business. Loan purchases created liquidity in multifamily housing markets while continuing to support workforce housing, Small Balance Loans and Manufactured Housing Communities.
We financed residential units for renters living in a wide variety of housing markets. The housing units we financed were spread across large, medium and small markets.
Approximately two-thirds of our YTD purchases counted towards the 2016 Federal Housing Finance Agency (FHFA) volume cap and the remaining one-third were excluded as they focused on affordable housing.
Nearly nine in 10 housing units we financed supported rental housing for low- to moderate-income renters across the U.S.
Three quarter record volume of loans was securitized YTD 2016. Since our K-Deal program began, we have securitized about $163 billion. In addition, we executed other securitizations totaling $3.2 billion YTD 2016.
As of September 30, 2016, K-Deals represented a majority of our total mortgage portfolio, and approximately 90 percent of new loan purchases were intended for securitization. Our securitization business model eliminates almost all risk exposure to U.S. taxpayers.
Our share of multifamily mortgage purchases in the GSE market for YTD through September 30, 2016.
Our credit metrics remain strong as of September 30, 2016, our credit losses were less than 1 basis point, our delinquency rate was 1 basis point, and we had zero REO properties.
New Business Activity
Multifamily New Business Activity YTD 2015 vs. 2016.