Servicer Evaluation: Freddie Mac

S&P Global Ratings' ranking on Freddie Mac Multifamily Asset Management and Operations (AMO) is ABOVE AVERAGE as a commercial mortgage loan master servicer. On Oct. 21, 2022 we affirmed the ranking (please see "Freddie Mac ABOVE AVERAGE Commercial Mortgage Loan Master Servicer Ranking Affirmed; The Ranking Outlook Is Stable," published Oct. 21, 2022). The outlook for the ranking is stable. Our ranking reflects AMO's: Experienced and tenured senior management team, despite a recent change in leadership; Effective and comprehensive employee training and development program; Continued low levels of multifamily mortgage loan delinquency rates; Integrated and effective technology systems; Comprehensive subservicer (seller/servicer) oversight program; Sound audit and control environment, although it has a longer-than-average internal audit cycle than that of most

...+ Freddie Mac hired a new CEO with extensive industry experience in June 2021. He replaced a board member who served as the interim CEO after the departure of the prior CEO in January 2021. + In September 2022, Freddie Mac named a new senior vice president (SVP) and chief compliance officer. + In July 2022, the VP of risk distribution and credit departed the company, and the position's responsibilities have been absorbed by other staff members while the company looks to fill the position. + In June 2022, the multifamily AMO SVP transitioned to a new role as the SVP in enterprise operations and technology. The VP of multifamily asset management is leading the department until a permanent replacement is determined. + In May 2022, the senior director of customer compliance management was promoted to VP of multifamily counterparty risk management. + In April 2022, Freddie Mac appointed an SVP and chief diversity and inclusion officer. + In February 2022, an interim head of underwriting and...

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