Freddie Mac is losing two senior executives.Kevin J. Finnerty, senior vice president of investor and dealer services, is leaving the company, as is Ann Schnare, senior vice president of corporate relations. No reasons were given for their departures. Ms. Schnare has agreed to stay on until a replacement is found, but Mr. Finnerty is leaving right away. Mr. Finnerty, a Wall Street veteran who has worked for U.B.S. Securities and Bear Stearns, is in charge of sales and trading for the mortgage giant. (See the June 14 issue of National Mortgage News for more details.)
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The industry's biggest opportunities involve the evolving cost of capital, which will shift funding sources from the private, local lending markets to institutional sources.
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The average owner experienced a four-figure decline in the first quarter compared to the same period last year even though the negative equity share is low.
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The company also made several new executive appointments in 2025 as it aims to turn itself into a national one-stop shop with end-to-end home buying services.
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The transaction is the first in what is planned to be a continued series of purchases by the new fund as it continues to raise capital from investors.
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Secondary market interest in home equity contracts is drawing new participants, with 2025 securitization activity ahead of last year, industry leaders said.
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The House and Senate will need to resolve a slight difference between their versions of the bill before sending it to President Donald Trump for his signature.
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