
Freddie Mac Appoints New CFO
Freddie Mac has announced the appointment of James Whitlinger as its new executive vice president and chief financial officer, effective January 1.
Whitlinger, who has been filling the interim CFO position since Christian Lown’s departure in June 2024, brings a wealth of experience to the role.
Diana Reid, the company’s CEO, enthusiastically welcomed Whitlinger’s new position, praising his significant background in financial management and accounting, which spans over 30 years.
Reid emphasized that Whitlinger’s decade at Freddie Mac equips him with the unique insights necessary to sustain the integrity and continuity of the Finance division.
Whitlinger’s Previous Roles
Before stepping into the CFO role, Whitlinger served as Freddie Mac’s senior vice president and CFO for single-family operations since 2014.
His extensive career includes notable roles such as senior vice president at Univest Bank and Trust Co., and executive vice president and CFO at GMAC ResCap Inc.
Expressing his thoughts in a statement, Whitlinger shared his excitement about leading the Finance Division at Freddie Mac.
He expressed heartfelt gratitude for the trust placed in him by the Board and the senior leadership team, and he looks forward to collaborating with his dedicated team of professionals.
New Housing Regulations
Amid these leadership changes at Freddie Mac, the Federal Housing Finance Agency (FHFA) has finalized a new rule aimed at promoting affordable housing objectives for Fannie Mae and Freddie Mac’s loan purchases from 2025 to 2027.
The recently established regulations prioritize equitable access to housing.
One significant aspect is a revised requirement that 25% of single-family mortgages sourced from Freddie and Fannie cater to borrowers earning below 80% of the area median income, a shift from the previous goal of 28%.
Furthermore, the new guidelines introduce changes to the targets for very low-income purchases and enhance subgoals for minority census tracts.
This rule is set to come into effect on February 27, 2024, following its publication in the Federal Register, allowing a 60-day implementation window.
As Freddie Mac navigates this transition in leadership, the future of the Government-Sponsored Enterprises (GSEs) under the new Trump administration remains in question.
Recent developments saw the U.S. Treasury and FHFA reach an agreement to amend the Preferred Stock Purchase Agreements (PSPAs) with Fannie Mae and Freddie Mac.
This move is seen as a pivotal step toward the potential privatization of these vital agencies.
Source: Housingwire