CREF Track Session 4: Roundtable with FHFA Official

Associate General Counsel | Legal Division, Freddie Mac Multifamily

Stephanie Milner is the Associate Vice President and Head of Commercial/Multifamily Policy. She is responsible for policy and advocacy execution and member engagement for MBA’s commercial and multifamily members, including private sector, HUD, and GSE lenders. Prior to joining MBA, Milner worked at Fannie Mae where she held several positions, including Director of Capital Markets and Senior Director of Strategy. Prior to that, she practiced law in the areas of Affordable Housing and Structured Finance. Milner holds a Juris Doctor degree from Emory University School of Law and a B.S. in Finance from Florida State University.

Associate Director for Multifamily Analytics and Policy, OMAP, Federal Housing Finance Agency (FHFA)

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 almost twenty years of multifamily experience and oversees the multifamily 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). In this role she served as a senior advisor on multifamily finance and policy issues affecting FHA and was responsible for managing and measuring risk issues. Prior to her time at HUD, Kelly worked in multifamily at Freddie Mac, both on the front end of the business and in asset management. She holds a B.A. from The Catholic University of America and an M.B.A. from Marymount University. She was also selected as an Excellence in Government (EIG) fellow through the leadership program at the Partnership for Public Service.