Nathan Downey all-star card

Nathan Downey was born in Indiana and grew up in various states in the Midwest due to his father’s work. When he was twelve, his family settled in Medina, Ohio. For college, Nathan stayed local and went to Ohio State University, double majoring in Marketing and Operations Management — the former because he was interested in the creative aspects of the field and the latter because his father worked in supply chain. In his early career, Nathan enjoyed a robust experience interning for AutoScout24 in Madrid, Spain; General Motors in Grand Blanc, Michigan; and Grief, Inc. in Delaware, Ohio. He found his internships intriguing, but as chance would have it, it was his friend who piqued his interest in real estate and proposed he consider Freddie Mac as a place to develop roots and a strong understanding of the financial mortgage industry.

When a job opened up at Freddie Mac, Nathan took the opportunity to try something new. He applied to the Small Balance Loan (SBL) underwriting team at the Chicago office in December 2019 and started in January 2020 — just months before the COVID-19 pandemic began.

Five years later, Nathan has grown in his career. Starting out as an analyst allowed him to learn the basics of checking in deals to verify the quality of the package submissions. Nathan helped revamp the Deal Check-in sheet used by the team to ensure critical components aren’t missing and avoid delays in downstream workflows. He also rotated amongst internal teams like Risk Distribution & Credit and other product line groups (Conventional, Targeted Affordable and Structured). This helped Nathan expand his credit knowledge and strengthen his foothold to eventually be promoted to Underwriting Professional.

In his current position, Nathan continues to work on numerous data and Excel projects. He enjoys creating systems like a global tracker to help monitor the inflow of deals across SBL to assist the team with deploying resources appropriately. 

There’s still much to learn, but with the continued support he gets at Freddie Mac, he’s excited to keep growing.

What do you like about your job or what gets you excited to come to work?

A: I always say liking your job is 50% what you do and 50% the people you work with. Freddie Mac has components of both. Although my internships were short, it was enough to show me what working at other companies can be like. Freddie Mac has an incredible culture and wonderful people. I’ve never met anyone at Freddie Mac not willing to help or answer questions. They’re the kindest, most supportive — and passionate about the important work that we do.

How does your work at Freddie Mac contribute to increasing affordable housing supply?

A: Freddie Mac has affordable housing goals that we’re prescribed to hit — but even if those goals went away, it’s ingrained in our DNA to want to provide affordable housing. Especially in SBL, with our focus being on low-income, 5-to-50 units, we contribute directly to this segment. Being able to see this work play out during on-site inspections, for example, is one of the ways we see how we’re making an impact for those who need it most.

10 years from now, what would you like to say you accomplished here?

A: First, I hope I can say I made a lasting mark on SBL through better processes or new ideas— whether that’s in the relationships I develop or the forms and processes I create. I’d also like to say I’ve accomplished making a difference for those who need low-income housing. Not everyone lends to these markets, so being part of an organization that wants to make a difference in people’s lives while providing liquidity would make me proud 10 years from now.

Nathan Downey with his wife on their wedding day.

Nathan with his wife on their wedding day.

Anything recent interests or hobbies you’ve picked up?

A: Last fall I had a lot of exciting developments in my life. I got married and bought a place with four units using Freddie Mac’s first-time homebuyer benefit. Since we live at the property, the other three are rented out. It’s not easy being a landlord but I’ve had a lot of fun learning, and I’m blessed with good tenants. I have enjoyed learning new things like installing drywall and flooring or minor replacement or repair of plumbing or electrical components. Taking care of the space around me and for my tenants has given me a unique perspective on the work we do in Multifamily, even if it’s at a more basic level.

As for hobbies, I’ve picked up golf recently, which I’m enjoying. Since my dad retired, he built a simulator at his house, so we play every week. It’s a great way to bond and learn together. And I like creative pursuits like pottery, photography or drawing. I’m by no means an expert, but it’s another way I express myself through creating something.

Nathan Downey with his wife at Sarasota Beach, Florida.

Nathan with his wife at Sarasota Beach in Florida.

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