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Monday, February 10, 2020

  • General Session: Multifamily Matters: GSE Trends and Apartment Finance

    Location: 2nd Floor,
    Seaport Ballroom D


    Speaker(s)

    Deborah L. Jenkins, Executive Vice President and Head of Multifamily Division, Freddie Mac

    Michael McRoberts, Managing Director, PGIM Real Estate Finance

    Robert G. Levin, Senior Vice President, Multifamily Customer Engagement, Fannie Mae

    Hilary Provinse, Executive Vice President and Head of Mortgage Banking, Berkadia

    Janette O'Brien, Senior Vice President & Head of Multifamily Production, KeyBank Real Estate Capital

    Siobhan Kelly, Associate Director, Office of Multifamily Analytics and Policy, Federal Housing Finance Agency

    General Session

    The mortgage banking industry continues to experience strong demand for financing multifamily developments.  New multifamily lending caps and FHFA leadership set the stage for the continued evolution of GSEs and their role in multifamily finance. Experts address what the GSEs and other industry participants expect going forward, what the multifamily finance market will look like in the
    next two to five years given regulatory shifts and more.

    Speaker(s)

    Deborah L. Jenkins, Executive Vice President and Head of Multifamily Division, Freddie Mac

    Deborah Jenkins is executive vice president and head of Multifamily. She leads all aspects of Freddie Mac’s Multifamily business – the largest capital provider to the U.S. multifamily rental housing market. She is a member of the company's senior operating committee.

    Previously, Jenkins served as senior vice president and national head of Multifamily Underwriting and Credit. In this role, Jenkins oversaw all credit approvals and due diligence processes, asset level securitization activities, as well as credit policies and governance for all of Multifamily’s products. This prior-approval approach has produced delinquency rates among the very lowest in the industry while ensuring mortgage liquidity across economic environments. Jenkins also spearheaded enhancements in the company’s underwriting process specifically to support its securitization program, including its signature K and SB Deals.

    Prior to that, Jenkins held different positions of increasing responsibility at Freddie Mac Multifamily, including vice president of national underwriting. Jenkins was a senior vice president with Wells Fargo National Bank in Michigan before joining Freddie Mac in March 2008.

    Jenkins holds a Master’s degree in Corporate Finance from Walsh College in Troy, Michigan, and a Bachelor’s of Science degree in Corporate Finance from Wayne State University in Detroit.

    Michael McRoberts, Managing Director, PGIM Real Estate Finance

    Mike McRoberts is a Managing Director with PGIM Real Estate Finance and serves as Chairman of the Agency platform, in Arlington, Virginia. In this role, his focus is on the expansion of the company's leadership position in multifamily lending. Prior to joining the company in 2011, he served as vice president and national head of sales and production for Freddie Mac with responsibility for the agency's conventional multifamily business, structured transactions, senior's housing, the national Freddie Mac Program Plus® network and Freddie's four regional production offices. Earlier, McRoberts was National Head of Underwriting and Credit f o r Freddie Mac. Before joining Freddie Mac in 1992, he held positions at First Maryland Mortgage Corporation in Baltimore and First Interstate Mortgage Corporation in Denver and Kansas City. McRoberts is a past chairman of the Fannie Mae DUS® Advisory Council serves on the Multifamily Committee for the Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) of the Mortgage Bankers Association (MBA). He also serves on the Debt Financing Subcommittee of the National Multifam-ily Housing Council. 

    Robert G. Levin, Senior Vice President, Multifamily Customer Engagement, Fannie Mae

    Rob Levin is Fannie Mae’s Senior Vice President and Head of Customer Engagement. In this role, he manages all customer relationships and leads all of Fannie Mae's multifamily production activities, including the Delegated Underwriting and Servicing (DUS®) lending platform, structured transactions, seniors housing, affordable housing, green financing, small loans, and borrower relationships. Under Rob’s leadership, Customer Engagement is focused on providing support, expertise, and guidance to our customers and partnering with them to build a high-quality, balanced book of business that will meet the needs of the multifamily market now and in the future.  Prior to his current role, Levin was the Vice President of Multifamily Credit Underwriting. He led the DUS loan underwriting process for all non-delegated loans, covering conventional loans as well as specialty products. He also managed the underwriting guidelines for Multifamily, ensuring that loans guaranteed by Fannie Mae met consistently high credit standards.  Before joining Fannie Mae in 1998, he worked in commercial and community banking. 

    Hilary Provinse, Executive Vice President and Head of Mortgage Banking, Berkadia

    Hilary B. Provinse is the EVP and Head of Mortgage Banking at Berkadia and is a member of Berkadia’s Management Committee. In this role, Ms. Provinse oversees 140 experienced mortgage bankers and their teams who are located in 31 offices across the country.  These teams serve clients across all multifamily and commercial channels and have expertise in specialty areas such as seniors housing and healthcare, hotels and hospitality, student housing, affordable housing, small loans and manufactured housing. Berkadia closed over $26 billion of Mortgage Banking volume in 2019.  Ms. Provinse ensures Berkadia clients benefit from our market expertise and deep relationships with diverse capital sources, including Life Companies, Banks, CMBS, Debt Funds, Fannie Mae, Freddie Mac and HUD. Ms. Provinse has a bachelor of arts in history from Dartmouth College and a master of business in finance from the Kellogg Graduate School of Management at Northwestern University.

    Janette O'Brien, Senior Vice President & Head of Multifamily Production, KeyBank Real Estate Capital

    Janette O’Brien serves as Senior Vice President, Head of Multifamily Production and Agency CEO for KeyBank Real Estate Capital. Ms. O’Brien has significant real estate experience with over twenty-eight years in Agency lending. This includes significant experience with Fannie Mae and Freddie Mac as well as with CMBS, Life Placement and equity investors, including approximately $55 billion in real estate lending transactions. Shespent the first couple of years of her career in various areas of multifamily servicing. After leaving multifamily servicing, Ms. O’Brien joined the Philadelphia-based Meridian Mortgage, which was one of the first companies involved in Agency lending. Through the years, Ms. O’Brien has been involved in underwriting for some of the top Agency lenders, including ARCS Commercial Mortgage, Reilly Mortgage Group and Berkshire Mortgage.

    Ms. O’Brien joined KeyBank to manage the Northeast and Midwest Agency underwriting and closing process in 1999, was promoted to Chief Underwriter in 2004 and promoted to her current position in 2014. Ms. O’Brien’ specialty is with Fannie Mae and Freddie Mac loans. In her current role, Ms. O’Brien’s team is responsible for multifamily production including Fannie Mae, Freddie Mac, FHA, CMBS and Life Placement. Ms. O’Brien has also served and continues to serve on numerous committees for Fannie Mae, Freddie Mac, KeyBank, MBA, NMHC and the community. Following a vote by her peers, Ms. O’Brien has recently accepted her fourth term on the Fannie Mae DUS Advisory Counsel and will serve as Vice Chair. With over 30 years of experience in the multifamily and affordable mortgage banking business, Ms. O’Brien uses her knowledge and experiences to cultivate relationships and mentor peers. Ms. O’Brien was a member of the MBA task force for a future secondary mortgage market, which aimed to create an end state model that can also fulfill an affordable housing duty. She supports charities including the National Multiple Sclerosis Society, Susan G. Komen Foundation, National Cancer Society, Habitat for Humanity and Girls With Sole.

    Ms. O’Brien received a Bachelor’s degree in Accounting from the University of Maryland, College Park in 1985. Ms. O’Brien continues to train in hopes that some year she will make it to the LPGA.

    Siobhan Kelly, Associate Director, Office of Multifamily Analytics and Policy, Federal Housing Finance Agency

    Siobhan Kelly is an Associate Director and currently leads the Office of Multifamily Analytics and Policy at the Federal Housing Finance Agency (FHFA). The office serves as the focal point for the development and implementation of mission-related multifamily policy, research and financial analysis.  Kelly has over 15 years of multifamily experience and oversees the business activities of both Freddie Mac and Fannie Mae. Previously, she served as the Multifamily Credit Risk Officer at the Department of Housing and Urban Development (HUD), servicing as a senior advisor on multifamily finance and policy issues affecting FHA, as well as managing and measuring risk issues related to the MAP lending program. Prior to her time at HUD, she worked in multifamily at Freddie Mac, both on the front end of the business and in asset management. Kelly was also selected as an Excellence in Government (EIG) fellow through the leadership program at the Partnership for Public Service.