Director, Policy and Program Assessment, Freddie Mac
The Award
was earned for Mr. Carey’s Persistent and Dedicated Efforts along
with Mr. Salam in Getting American Finance House LARIBA and its Shari’aa
(jurisprudence) approved model approved by Freddie Mac. This represents
an historic development in the history of Islamic LARIBA Financing in
the West in March 2001. The approval propelled the growth of home financing
to the American Muslim Community on a large scale. We are indebted to
God and to Mr. Carey, Mr. Salam and Freddie Mac for their trust in us;
the team of LARIBA.
As Director of Policy and Program Assessment, Mr. Carey is responsible
for the development of Freddie Mac’s Affordable Lending Policies
and Products. He and his staff work with Freddie Mac’s customers,
including lenders and public and non-profit organizations, to ensure
that Freddie Mac’s product offerings meet the needs of the affordable
lending community. Mr. Carey was an important engine in making the dream
of owning a home for many members of the American Muslim community a
reality by developing the strategic relationship with American Finance
House LARIBA of Pasadena, CA in March 2001 and other finance companies
that comply with Islamic law regarding financing.
Mr. Carey has engaged in the financing and development of affordable
housing for over thirty years. He began his association with Freddie
Mac in January 1993.
Prior to joining Freddie Mac, he developed affordable housing with
profit and non-profit organizations. He also served as Deputy Director
for the Massachusetts Housing Finance Agency where he was responsible
for the agency’s Mortgage Revenue Bond programs. He began his
career as a real estate appraiser with the Department of Housing and
Urban Development.
He serves as Vice Chairman of the Fairfax County Affordable Dwelling
Unit Board.
Mr. Carey holds a Masters Degree from Northeastern University in Boston,
Massachusetts and earned an undergraduate degree from Franklin and Marshall
College in Lancaster, Pennsylvania.
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