Servicer Evaluation: Freddie Mac

S&P Global Ratings' ranking on Freddie Mac Multifamily Asset Management and Operations (Freddie Mac AMO) is ABOVE AVERAGE as a commercial mortgage loan master servicer. On June 27, 2024, we affirmed the ranking (please see "Freddie Mac ABOVE AVERAGE Commercial Mortgage Loan Master Servicer Ranking Affirmed; Ranking Outlook Stable," published June 27, 2024). The ranking outlook is stable. Our ranking reflects Freddie Mac 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

...loans in affordable and underserved market segments are considered "mission driven." The 2024 scorecard requires that a minimum of 50% of Freddie Mac's multifamily loan purchases, based on unpaid principal balance (UPB), be mission driven. Certain loans designed to preserve workforce housing affordability and forward conversions are exempt from the 2024 loan purchase cap. + The Freddie Mac CEO retired on March 15, 2024. The president of the company was appointed as interim CEO while a search for a new CEO is ongoing. + The chief financial officer announced his resignation and left his position the end of June 2024. The senior vice president (SVP) and CEO of the single-family division was appointed as interim CFO and head of finance division while a search for a new CFO is ongoing. + An long-tenured internal employee, with over 20 years experience, was promoted to a newly created role as SVP, multifamily chief operating officer. This SVP role oversees the combined responsibilities of asset...

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