Posts by Ed Hussey
Edward (Ed) Hussey is the vice president of Multifamily Credit Risk Management in the Enterprise Risk Management Division of Freddie Mac. In this position, he is responsible for credit risk management of the Multifamily business line at Freddie Mac, including overseeing transaction authority for higher-risk Multifamily transactions above $50 million; the valuation, physical, and environmental risk functions for new loan purchases; and credit policy. Previously, Hussey held the positions of vice president of Multifamily Credit Policy and Asset Valuation and vice president of Multifamily Terms of Business.
Freddie Mac Multifamily’s ability to promote liquidity and stability in the rental housing market is built on effective risk management. Credit discipline helps keep that foundation strong. If we make credit too tight, we risk inadequately supporting the rental markets that we were chartered to serve. Too loose, and we risk borrowers taking on mortgages that they can’t sustain. Striking the right balance benefits our customers, the housing market, and communities across the country as well as helps protect U.S. taxpayers’ investment in Freddie Mac.
That’s why Freddie Mac Multifamily strictly adheres to a core set of credit principles when deciding whether to purchase mortgages. Borrowers must have equity in the deal, strong understanding of the local market, and a proven record of performing well in all economic cycles. Also, the properties must be well maintained and deliver positive, sustainable cash flow. And loans must have a clear path to refinancing at maturity.