Freddie Mac Appoints Sonu Mittal to lead Single-Family Acquisitions Division

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) announced the appointment of Sonu Mittal as senior vice president and head of the Single-Family Acquisitions division, effective March 20, 2023. Mittal brings over twenty years of experience in mortgage lending, previously holding several executive roles at Citizens, including President of Home Mortgage. He will oversee seller engagement, credit, products, and affordable mission goals while being part of the Senior Operating Committee. Mittal expressed his commitment to addressing housing affordability challenges. His background includes tenures at Capital One and Chevy Chase Bank, alongside a Bachelor of Science in accounting from George Washington University.

MCLEAN, Va., Feb. 28, 2023 (GLOBE NEWSWIRE) -- Sonu Mittal will join Freddie Mac (OTCQB: FMCC) as senior vice president and head of the Single-Family Acquisitions division, the company announced today. He brings more than two decades of experience across all sectors of mortgage lending to the company. Mittal will be a member of the company’s Senior Operating Committee, reporting to President Mike Hutchins. He will begin on March 20.

Mittal will join Freddie Mac from Citizens, where he has served in several executive roles, including President of Home Mortgage, executive vice president of Home Lending and Head of Retail Mortgage, as well as other areas.
        
“Sonu Mittal is a respected executive and industry leader with experience in virtually every aspect of mortgage lending. He will be an invaluable asset to Freddie Mac, and I welcome him to the company,” said Mike Hutchins, President of Freddie Mac. “I look forward to working with him to advance our housing mission and bring greater access, affordability and equity to families across the country.”

As Head of the Single-Family Acquisitions, Mittal will have broad responsibility for seller engagement, credit, products and affordable mission goals, as well as the operations and technology functions that support these activities.

“I’m deeply honored to join Freddie Mac at this critical time for the housing market and the economy,” said Sonu Mittal. “In my 20+ years in housing, I’ve seen the fundamental challenges affordability and access pose for many families looking to achieve the dream of homeownership. I’m excited to join a mission-driven company that is committed to helping address these issues on a scale that will impact families across the nation. I appreciate my time at Citizens and look forward to collaborating with them and others in my new position to support a vibrant housing system.”

Prior to his role at Citizens, Mittal spent nine years at Capital One and nine years at Chevy Chase Bank, working in mortgage production, consumer sales and in other functions. He has extensive experience across sales, operations, capital markets, strategy, analytics, product management and technology.

Mittal holds a Bachelor of Science in accounting from George Washington University.

MEDIA CONTACT: Christopher Spina
703-388-7031
Christopher_Spina@FreddieMac.com

FAQ

Who is the new head of Single-Family Acquisitions at Freddie Mac?

Sonu Mittal has been appointed as the senior vice president and head of the Single-Family Acquisitions division at Freddie Mac.

What experience does Sonu Mittal bring to Freddie Mac?

Sonu Mittal brings over twenty years of experience in various sectors of mortgage lending from roles at Citizens, Capital One, and Chevy Chase Bank.

When does Sonu Mittal start his new role at Freddie Mac?

Sonu Mittal will begin his role on March 20, 2023.

What are Sonu Mittal's responsibilities at Freddie Mac?

He will oversee seller engagement, credit, products, and affordable mission goals in his new position.

What is Freddie Mac's focus under Sonu Mittal's leadership?

Freddie Mac aims to enhance access, affordability, and equity in homeownership for families across the country.