Mortgage Daily Logo
mortgage news from industry experts

New President at Freddie Mac, CEO Leaving

In addition to disclosing that it has appointed a new president, the Federal Home Loan Mortgage Corp. has revealed that its current chief executive officer will be leaving. The domino effect impacts its multifamily business.

Freddie Mac CEO Donald H. Layton has informed the company’s board of directors that he plans to
retire in the second half of next year, a news release Wednesday said.

Layton, 68, took on the CEO role in May 2012.
During his time at the helm, he “has played an indispensable role in transforming Freddie Mac,” Freddie Mac Chairman Christopher S. Lynch said in the statement.

Freddie’s board has implemented a CEO succession plan that will have it considering both internal and external candidates. It has formed a search committee and will retain an executive search firm to find outside candidates.

One internal candidate is Freddie’s executive vice president and head of multifamily, David Brinkman, who has now been promoted to president as he is considered for the CEO role.

“He is a natural leader who has built the multifamily business into the industry’s innovative market leader,” Lynch stated. “In addition, the board is confident that David’s broad business experience will help further the company’s competitiveness in all our businesses.”

Taking over Brinkman’s position as head of multifamily is Deborah Jenkins, who was promoted from senior vice president of the unit.
Before starting at McLean, Virginia-based Freddie in 2008, Jenkins spent seven years at Wells Fargo & Co.

“Debby’s appointment to head Freddie Mac multifamily is very well-deserved, based on her impressive management of the underwriting and credit functions and her instrumental role in the success of Freddie Mac’s multifamily business,” Lynch added.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION