FREDDIE MAC MULTIFAMILY DIVISION REORGANIZES

Changes Designed To Place More Focus On Customer And Streamline Operations

McLean, VA – The Freddie Mac Multifamily division announces the creation of a new sales structure designed to focus more time and attention on customer needs and to streamline operations. These changes will be effective as of January 31, 2007.

"The reorganization positions us for success in the coming years by making us even more customer-focused, efficient and creative in meeting customer needs and the demands of a changing market," said Mike May, senior vice president of Multifamily Sourcing. "The changes establish a single point of accountability and enable the entire organization to work better as a team."

The changes are as follows:

Mitchell Kiffe will lead Production and Sales. This group will be responsible for deal negotiation, price quotes, and commitments. Freddie Mac's managing regional directors will remain the lead contact for customers in the negotiations and execution of deals, and a team of regional underwriting and home office sales and underwriting staff will support them.

Kim Griffith will head up Affordable Sales and Investments. Deal negotiation, price quotes and commitments for affordable business will be the responsibility of this group. Regional underwriting and home office sales and underwriting staff will support this group as well. This new department will focus on the unique needs of lenders and borrowers in this market.

Mike McRoberts will be in charge of Freddie Mac's new multifamily Underwriting department. McRoberts and his team primarily will be responsible for credit decisions, and will be teamed with the sales functions to make transactions fast and seamless.

Daryl Hall will continue as head of Asset Management, supporting Freddie Mac's increased focus on new and specialty products while finding new ways to streamline portfolio servicing operations.

Freddie Mac has also created the Offerings and Customer Management department to work with its sales and underwriting team and its customers in addressing customer business needs, as well as creating a new Terms of Business Management department this is responsible for transaction-level credit and servicing policy, credit support for new product development and customer compliance management. These positions are currently vacant.

Since the introduction of the Freddie Mac Program Plus network of multifamily loan originators and servicers in 1993, Freddie Mac has provided financing for over 48,000 multifamily properties totaling more than $147 billion.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters. For additional information about Freddie Mac, see the company's web site.

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