FANNIE AND FREDDIE used the occasion of this
year's MBA CREF Convention in
February to introduce some new faces in leadership. Fannie
Mae's new executive vice
president of multifamily, Jeff Hayward, was at the show,
while Freddie Mac announced the hiring of John Cannon
(pictured) as its new head of production.
Cannon left Berkadia back in October after a long stint
with the company, which began as GMAC Commercial Mortgage
and later became Capmark. The hiring of Cannon illustrates
the circular nature of the multifamily finance world, where
many former GSE execs become top GSE
originators— and vice versa.
For instance, former Freddie head of production Mitch Kiffe
is now with CBRE Capital Markets.
“Three years ago, Mitch Kiffe
would've been on stage at CREF
giving an award to John Cannon as the leading Freddie Mac
seller,” says Brickman.
“And today, John would be on
stage giving an award to Mitch Kiffe, since CBRE was our
largest seller in 2011.”