Commercial & Residential Property Blog

The low-income housing tax credit industry can breathe a little easier this year: Freddie Mac is not actively pursuing a sale of its tax-credit portfolio.

McLean, Va.–Bruce M. Witherell, a mortgage industry veteran, has been appointed chief operating officer of Freddie Mac effective Sept. 14, 2009. In his new position, Witherell will oversee and ensure effective integration across the company’s three business lines—Single Family Credit Guarantee, Multifamily Sourcing and Investments and Capital Markets—as well as its Operations and Technology division. Witherell will report to CEO Charles E. Haldeman, Jr.

Freddie Mac in June will expand mortgage funding for multifamily buildings with a new debt program, aimed at managing its risk and improving liquidity in a turbulent real estate sector, the second-largest U.S. home funding company said on Tuesday.