Announcing a New Underwriting Role for Specialty Products led by Mike Patterson
December 20, 2011
I am pleased to announce that Mike Patterson will join Multifamily Underwriting in the newly created role of Senior Underwriting Director of Specialty Products, effective January 1, 2012. In his new capacity, Mike will be a member of my Underwriting management team and will report directly to me. He will oversee the underwriting and closing of Targeted Affordable Housing (TAH), Structured, and Seniors Housing products. Mike will also be actively involved in the development and structuring of new securitization capabilities for these and other specialty products as they evolve over time.
Mike has a long tenure with Freddie Mac of over 17 years, most recently as Securitization Program Director in the Capital Markets area of Multifamily. With the overwhelming success of our Capital Markets ExecutionSM (CME)/K-deal program for our conventional flow business as well as the conversion of our conventional platform from portfolio to securitization over the past three years, it is evident that our next step forward is to increase and improve our securitization capabilities. Given Mike's instrumental involvement in the development and success of our existing K-deal platform along with his experience with Freddie Mac's TAH, Structured, and Seniors products, having him join the Underwriting department is a perfect fit.
Mike will work closely with our Capital Markets, Legal, Production, and Underwriting teams to develop new underwriting processes to further align the department with our securitization business model. Mike will be directing the following team:
- Shaun Smith, Senior Underwriting Director TAH
- Dara Koller, Underwriting Director of Structured Products (Conventional & Affordable)
- Mary Scanlan, Underwriting Director of Seniors Housing
Please join me in congratulating Mike on his new position. I look forward to having him as a part of my management team.
Vice President, Underwriting