Freddie Mac

Washington, D.C. — Freddie Mac and Fannie Mae have separately announced nationwide initiatives to provide financial relief for their multifamily borrowers and tenants affected by the outbreak of coronavirus disease of 2019 (COVID-19). The two government-sponsored enterprises are enacting programs that allow their borrowers to defer monthly payments for up to 90 days by showing hardship as a consequence of COVID-19 and by gaining lender approval. Additionally, participants in the program must agree to not evict their renters who are facing financial hardship due to the current health crisis. The agencies anticipate …

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Chicago — Richard Martinez has been promoted to senior vice president of all production and sales at Freddie Mac. Griffin Cotter, director of production and sales, has been tapped to lead the company’s student housing business in place of Martinez. Cotter is part of the central regional management team based in Chicago, which originates more than $13 billion in multifamily loans annually. “We are pleased to announce that Griffin Cotter will be leading our student housing business,” says Richard Martinez, senior vice president for production and sales at Freddie Mac. …

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