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Freddie Mac

Freddie Mac
Leadership team

Mr. Michael J. DeVito (CEO & Director)

Dr. Michael Thomas Hutchins (Pres)

Mr. Christian M. Lown (Exec. VP & CFO)

Products/ Services
Finance, Financial Services, Risk Management
Number of Employees
1,000 - 20,000
Headquarters
Mclean, Virginia, United States
Established
1970
Company Registration
SEC CIK number: 0001026214
Net Income
1B - 20B
Revenue
Above - 1B
Social Media
Overview
Location
Summary
Federal Home Loan Mortgage Corporation operates in the secondary mortgage market in the United States. The company purchases single-family and multifamily residential mortgage loans originated by lenders, as well as invests in mortgage loans and mortgage-related securities. It operates through two segments, Single-family and Multifamily. The Single-family segment purchases, securitizes, and guarantees single-family loans; and manages single-family mortgage credit risk, as well as manages mortgage-related investments portfolio, single-family securitization activities, and treasury functions. This segment serves mortgage banking companies, commercial banks, regional banks, community banks, credit unions, housing finance agencies, savings institutions, and non-depository financial institutions. The Multifamily segment engages in the purchase, sale, securitization, and guarantee of multifamily loans and securities through the issuance of multifamily K and SB certificates; issuing and guarantying other securitization products; issuing other credit risk transfer products; and provision of other mortgage-related guarantees. It serves banks and other depository institutions, insurance companies, money managers, central banks, pension funds, state and local governments, real estate investment trusts, brokers and dealers, and a range of lenders. The company was founded in 1970 and is headquartered in McLean, Virginia.
History

From 1938 to 1968, the Federal National Mortgage Association was the sole institution that bought mortgages from depository institutions, principally savings and loan associations, which encouraged more mortgage lending and effectively insured the value of mortgages by the US government. In 1968, Fannie Mae split into a private corporation and a publicly financed institution. The private corporation was still called Fannie Mae and its charter continued to support the purchase of mortgages from savings and loan associations and other depository institutions, but without an explicit insurance policy that guaranteed the value of the mortgages. The publicly financed institution was named the Government National Mortgage Association and it explicitly guaranteed the repayments of securities backed by mortgages made to government employees or veterans .

To provide competition for the newly private Fannie Mae and to further increase the availability of funds to finance mortgages and home ownership, Congress then established the Federal Home Loan Mortgage Corporation as a private corporation through the Emergency Home Finance Act of 1970. The charter of Freddie Mac was essentially the same as Fannie Mae's newly private charter: to expand the secondary market for mortgages and mortgage-backed securities by buying mortgages made by savings and loan associations and other depository institutions. Initially, Freddie Mac was owned by the Federal Home Loan Bank System and governed by the Federal Home Loan Bank Board.

In 1989, the Financial Institutions Reform, Recovery and Enforcement Act of 1989 revised and standardized the regulation of Fannie Mae and Freddie Mac. It also severed Freddie Mac's ties to the Federal Home Loan Bank System. The Federal Home Loan Bank Board was abolished and replaced by different and separate entities. An 18-member board of directors for Freddie Mac was formed, and subjected to oversight by the U.S. Department of Housing and Urban Development . Separately, The Federal Housing Finance Board was created as an independent agency to take the place of the FHLBB, to oversee the 12 Federal Home Loan Banks .

In 1995, Freddie Mac began receiving affordable housing credit for buying subprime securities, and by 2004, HUD suggested the company was lagging behind and should "do more".Freddie Mac was put under a conservatorship of the U.S. federal government on Sunday, September 7, 2008.

Mission
We are Making Home Possible for families across the nation by financing the creation and preservation of more affordable homeownership and rental opportunities.
Vision
Our vision is to be a global leader in the secondary mortgage market, providing liquidity and stability to the U.S. housing finance system.
Key Team

Mr. Jerry Weiss (Exec. VP & Chief Admin. Officer)

Mr. Anil D. Hinduja MBA (Exec. VP & Chief Risk Officer)

Mr. Frank Nazzaro (Exec. VP of Enterprise Operations & Technology)

Mr. Jeffrey Markowitz (Sr. VP of External Relations & Corp. Communications)

Ms. Heidi Mason (Exec. VP & Gen. Counsel)

Mr. Dennis Hermonstyne (Sr. VP & Chief Compliance Officer)

Ms. Dionne Wallace Oakley (Sr. VP & Chief HR Officer)

Recognition and Awards
Freddie Mac won 1 award in 2017. In 2017, Freddie Mac won for Top Rated Companies in DC. Based on 893 ratings and 95 participants, employees at Freddie Mac are satisfied with their work experience. The overall culture score, 71/100 or B, incorporates employee ratings based on their feedback on the Overall Culture, Environment, Leadership and more.
References
Freddie Mac
Leadership team

Mr. Michael J. DeVito (CEO & Director)

Dr. Michael Thomas Hutchins (Pres)

Mr. Christian M. Lown (Exec. VP & CFO)

Products/ Services
Finance, Financial Services, Risk Management
Number of Employees
1,000 - 20,000
Headquarters
Mclean, Virginia, United States
Established
1970
Company Registration
SEC CIK number: 0001026214
Net Income
1B - 20B
Revenue
Above - 1B
Social Media