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Prudential Mortgage Capital Company hires Michael McRoberts to head Fannie Mae and Freddie Mac lending businesses

^{Published on 2011-10-19 10:10:45 - Market Wire}
 

NEWARK, N.J.--([ BUSINESS WIRE ])--Michael McRoberts has agreed to join Prudential Mortgage Capital Company as managing director of its conventional Fannie Mae and Freddie Mac lending business, the company announced today. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).

"The last few years have brought tremendous change for all participants in the agency lending business. Adding Mike to Prudential Mortgage Capitala™s leadership team highlights our strong commitment to agency lending."

McRoberts will be responsible for growing and enhancing Prudentiala™s leadership position in multifamily lending as head of the companya™s market rate Fannie Mae and Freddie Mac portfolio teams and agency production team. His appointment is effective Dec. 5, 2011.

aMike is an industry leader respected for his deep and broad knowledge of multifamily finance that will be a catalyst for continued growth in our already strong agency lending platform,a said David Durning, senior managing director of Prudential Mortgage Capital Company. aThe last few years have brought tremendous change for all participants in the agency lending business. Adding Mike to Prudential Mortgage Capitala™s leadership team highlights our strong commitment to agency lending.a

McRoberts, who will be based in the companya™s McLean, Va. office, joins Prudential Mortgage Capital Company from Freddie Mac, where he was a vice president and national head of sales and production, responsible for the agencya™s conventional multifamily business, structured transactions and seniora™s housing teams, the national Freddie Mac Program Plus network and Freddiea™s four regional production offices. Earlier, he was national head of underwriting and credit and managing director of Freddie Maca™s southeast region. McRoberts will report directly to Durning.

Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with $68 billion in assets under management and administration as of June 30, 2011. Leveraging a 135-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Prudentiala™s general account and proprietary balance sheet program; and other institutional investors. The company maintains a loan servicing portfolio of approximately $66.3 billion, as of June 30, 2011. For more information, please visit [ http://www.prumortgagecapital.com ].

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $883 billion of assets under management as of June 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudentiala™s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudentiala™s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit [ http://www.news.prudential.com/ ].