Mortgage Daily

Published On: March 11, 2009
New Freddie Chairman, CEOInterim chairman and CEO named

March 11, 2009

By staff

The chairman of Freddie Mac will relinquish his boardroom role to temporarily step in as chief executive officer.The McLean, Va.-based company said today that it named John A. Koskinen as interim CEO. Koskinen has served as chairman of Freddie’s board of directors since Sept. 7, when the Federal Housing Finance Agency seized control of the secondary lender and its government-sponsored cousin Fannie Mae.

Koskinen replaces David Moffett, who said last month that he would step down by this Friday to return to a role in the financial services sector. Moffett was appointed CEO of Freddie also last September.

Robert R. Glauber has been named interim chairman. He will have no role in day-to-day operations.

Glauber joined Freddie’s board in 2006. He lectures at Harvard University — where he is a visiting professor — and was chairman and CEO of the National Association of Securities Dealers from 2001 to 2006, the announcement said. He was appointed by the Reagan administration as executive director of a task force on the 1987 stock market break.

Glauber’s prior board memberships include the Federal Reserve Bank of Boston, a number of Dreyfus mutual funds and the Investment Company Institute.

“Both individuals bring a tremendous amount of public and private sector experience at this critical time for Freddie Mac and the nation’s housing finance system,” FHFA Director James B. Lockhart said in a statement. “FHFA will continue to work with the board as it searches for a permanent CEO.”

Koskinen and Glauber begin upon Moffett’s termination.

Freddie CEO Quits
As Freddie Mac prepares to ask the U.S. Treasury Department for tens of billions of dollars in more aid, its government-appointed chief executive officer is quitting.

Freddie Mac profile

next story

back to current headlines

Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator


Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Date with Today’s Latest Rates


Today’s rates starting at


5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at


$200,000 LOAN

Home Equity

Today’s rates starting at


$200,000 LOAN


Today’s rates starting at


$200,000 LOAN