MICHAEL C. MAY
Senior Vice President
Multifamily
Michael C. May was appointed to the position of senior vice president, Multifamily, on August 11, 2005. He is a member of the company's leadership team and reports to Chief Operating Officer Bruce M. Witherell.
In this position, May is responsible for customer relations, product development, marketing, sales, loan purchase, and asset management for the company's multifamily business, which includes the flow mortgage, structured and affordable mortgage, CMBS and low-income housing tax credit portfolios. The total multifamily portfolio, including our investments in LIHTC partnerships and CMBS, was $148 billion as of June 30, 2008.
Previously, May served as senior vice president, Operations, starting in February 2005 where he was responsible for all operations of the company including single family mortgage purchase, servicing, and default operations; commercial loan purchase servicing and default operations; treasury operation; pass thru, REMIC, and debt security issuance and bond administration; investment settlement and servicing operations; and transactional accounting for business operations.
May also served as senior vice president, Mortgage, Operations & Funding (MSOF) from October 2003 to February 2005. In that position, May performed the general manager function for Freddie Mac's single family business. This included customer relations, mortgage investor relations, product development, marketing, sales, pricing, automated underwriting, loan purchase, loan servicing, default management, REO operations, securities issuance, bond administration, accounting and all systems development supporting the operation. Prior to that, May held the position of senior vice president, Single Family Operations at Freddie Mac from July 2002 to October 2003. In this capacity, he was responsible for all operations associated with the purchase and servicing of single-family mortgages, as well as the operational infrastructure, technology, and organizational environment activities for Freddie Mac's single-family business.
May was also the executive responsible for the design, development, deployment and adoption of the company's new core Single Family transactional and operational systems that transformed the company's process to an e-business environment. In August 1998, May was named senior vice president, Customer Services and Control. Previously, he held a series of executive level positions, including vice president of Loan Prospector and vice president of Structured Finance, where he managed Freddie Mac's structured mortgage securities program, new product development, new issuance and ongoing servicing of all structured mortgage securities products. May also served as vice president of Freddie Mac's Securities Sales & Trading Group (SS&TG), where he oversaw activities including sales, trading, operations, control and research.
May came to Freddie Mac in 1983 from the Student Loan Marketing Corporation where he served as an internal auditor. May is a Certified Public Accountant and a certified internal auditor and holds a B.S. degree from Old Dominion University.
Since the launch of the Freddie Mac's multifamily business in 1993, Freddie Mac has provided financing for approximately 55,500 multifamily properties totaling almost $200 billion.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.
08/09