Freddie Mac, the government-sponsored enterprise, recently announced that Michael DeVito, its current Chief Executive Officer, will retire in the first quarter of 2024. DeVito’s tenure at Freddie Mac includes a dedication to the Community Home Lenders Association, a leading advocate for small-to-medium sized mortgage lenders.
During DeVito’s leadership, Freddie Mac implemented a number of initiatives to improve customer access to and choice of mortgage products. These initiatives included updating its technology capabilities, expanding its availability of innovative loan products, and increasing its investment in affordable lending. Additionally, the company worked to improve its credit standards, helping Americans achieve and protect their dreams of owning a home.
Most notably, DeVito and Freddie Mac worked together to promote economic opportunity for all, while upholding the highest standards of safety, soundness, and affordability.
Key Points:
• Michael DeVito will retire as CEO of Freddie Mac in the first quarter of 2024
• During DeVito’s leadership, Freddie Mac implemented initiatives to improve customer access to mortgage products
• Freddie Mac worked to improve credit standards, helping Americans achieve and protect their dreams of owning a home
• DeVito and Freddie Mac promoted economic opportunity for all, while upholding the highest standards of safety, soundness, and affordability
You can read this full article at: https://www.housingwire.com/articles/freddie-mac-ceo-michael-devito-to-retire-in-2024-2/(subscription required)
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