CREF TRACK: Secondary Market Update
The only thing for certain in today’s market seems to be uncertainty. This session highlights the current state of the secondary markets for commercial mortgages and how investors and issuers are approaching changing market conditions. Hear about the latest products and what is driving demand and supply of commercial and multifamily mortgage-backed securities.
Speakers
Moderator
Jamie Woodwell is Vice President in the Research and Economics group at MBA, where he oversees MBA's research and related activities covering the commercial and multifamily real estate markets. Jamie and his work are regularly cited in the media, on Capitol Hill and in regulatory settings. He is a regular speaker at industry and corporate events; has appeared on CNBC, Bloomberg and in other popular and trade press; and testified before the Congressional Oversight Panel for TARP. Jamie initiated many of MBA's research activities, and created MBA's Peer Business Roundtables and the CREF Careers program. Jamie joined MBA in 2004 from Fannie Mae, where he was responsible for multifamily data initiatives.
Speakers
Michael oversees all multifamily loan pricing for the capital markets division related to both securitized products, the retained portfolio and guaranty fees, which are key to Freddie Mac's continued ranking as a leader in multifamily finance. He joined Freddie Mac in 2017 and brings over 20 years of investment experience. Prior to Freddie Mac, Michael was with Invesco Real Estate where he helped build the structured transactions team and Bank of America where he held various capital markets and trading roles.
Alonzo joined Fannie Mae in 2010 and currently manages the day-to-day trading of the Multifamily Trading Desk. The Multifamily Trading Desk is responsible for all primary and secondary trading, structuring, new issuance and marketing of Agency CMBS (DUS MBS), and GeMS REMIC structures at Fannie Mae. The Multifamily Trading Desk created the Fannie Mae Guaranteed Multifamily Structures (GeMS) program in 2011 and has structured and issued more than $109.3 billion in securities since the program’s inception. In addition, the Multifamily Trading Desk annually transacts more than $20 billion in two-way trading volume. The Multifamily Trading Desk is also responsible for trading non-agency CMBS and municipal securities. Prior to joining Fannie Mae, Alonzo was responsible for the non-agency CMBS portfolio for the California Public Employee’s Retirement System (CalPERS). Earlier in his career, Alonzo held various positions in Fixed Income Sales and Trading with investment banking firms. Alonzo also served as the past Chair for the CREFC GSE Multifamily Forum. Alonzo holds a B.S. from the University of Maryland and an MBA from Georgetown University’s McDonough School of Business.
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