Page 11 - Michael Devito News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The FHFA, which oversees the bulk of the mortgage market, now has a Senate-confirmed director: Sandra Thompson.

Freddie Mac announced Tuesday it has promoted company veteran Kevin Palmer to head its Multifamily business. He will serve as a member of the company’s Senior Operating Committee and report to company President Mike Hutchins. Palmer begins in the new position on May 9. He has been with the company since 2001 and worked in a variety of positions,  most recently as senior vice president for Single-Family Portfolio Management, overseeing pricing, servicing, credit risk transfer, and various other capital markets and risk management activities.

Improved loan performance, a credit reserve release, higher g-fees and reduced portfolio runoff helped to offset declining single-family loan purchases.

Freddie Mac reported net income of $3.8 billion for the first quarter of 2022, an increase of 37% year-over-year, even as purchase and refinance activity continued to decline.

Current deputy general counsel Wendell Chambliss steps up to the newly created officer position, with the appointment coming after a similar recent hire by Fannie Mae.