Kevin G. Chavers and Luke S. Hayden to Join Freddie Mac Board of Directors

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) has appointed Kevin G. Chavers and Luke S. Hayden to its Board of Directors, effective February 15, 2022. Chavers, a former managing director at BlackRock, brings extensive mortgage finance and capital markets expertise, while Hayden, CEO of Hayden Consulting, has vast experience in residential real estate finance. Chavers will serve on the Audit and Nominating committees, and Hayden will join the Operations and Technology Committee as well as the Risk Committee. Both are expected to add valuable insights to enhance Freddie Mac's operations.

Positive

• Chavers brings extensive experience in mortgage finance and capital markets from BlackRock.
• Hayden has a comprehensive background in residential real estate finance and risk management.

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• None.

MCLEAN, Va., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that Kevin G. Chavers and Luke S. Hayden have been elected to its Board of Directors effective Feb. 15, 2022. Chavers retired as managing director, Global Fixed Income Investment Team, at BlackRock, Inc. in 2021, and Hayden has been chief executive officer of Hayden Consulting LLC since 2012.

“Mr. Chavers brings additional mortgage finance, capital markets and public policy expertise to our Board. Over his more than two decades with some of the nation’s largest financial companies he has developed a deep familiarity with Freddie Mac and its leadership. Additionally, he possesses hands-on experience as an innovator and issuer of agency mortgage-backed securities,” said Sara Mathew, non-executive chair of Freddie Mac’s Board of Directors.

“Mr. Hayden has held nearly every job in our industry, from loan officer to chief executive officer, which has armed him with a ground-level appreciation of the complex needs of our clients. His comprehensive experience in residential real estate finance, capital markets and risk management from several of the largest mortgage operations in the country will be an asset to Freddie Mac’s Board,” said Mathew. “We wholeheartedly welcome Kevin and Luke to our Board.”

Chavers will serve on our Audit Committee and Nominating and Governance Committee, and Hayden will serve on our Operations and Technology Committee and Risk Committee.

After joining BlackRock in 2011, Chavers also served as managing director, Global Public Policy Group, and managing director, BlackRock Solutions, Financial Markets Advisory Group. Prior to joining BlackRock, Chavers held various positions at Morgan Stanley from 2003 to 2011, including as managing director, senior relationship management and Head, Mortgage Strategy & Execution. He joined Morgan Stanley from Goldman Sachs & Company where he was vice president, Principal Finance Group, Mortgage Securities Department from 1998 to 2003. He had previously held various positions in the U.S. government from 1989 to 1998, ultimately serving as president of Ginnie Mae from 1995 to 1998. Chavers began his career as an associate at the law firm of Milbank, Tweed, Hadley & McCloy LLP.

Hayden served as vice chairman of Residential Mortgage Services Holdings, Inc. from 2013 to 2021. Prior to joining Residential Mortgage Services Holdings, he was president of PHH Mortgage Corporation from 2010 to 2012 and executive vice president and senior managing director at GMAC Residential Capital from 2007 to 2008. From 1992 to 2005, he held various positions at JPMorgan Chase & Company and its predecessors, eventually becoming executive vice president, consumer market risk management. Hayden began his career as a loan officer and loan purchaser at Ralph C. Sutro Company.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT: Christopher Spina
(703) 388-7031
christopher_spina@freddiemac.com

FAQ

Who were appointed to the Freddie Mac Board of Directors in February 2022?

Kevin G. Chavers and Luke S. Hayden were appointed to the Freddie Mac Board of Directors effective February 15, 2022.

What experience does Kevin G. Chavers bring to Freddie Mac?

Chavers has over two decades of experience in mortgage finance and capital markets, previously serving as managing director at BlackRock.

What roles will Kevin G. Chavers and Luke S. Hayden hold on the Board of Directors?

Chavers will serve on the Audit Committee and Nominating and Governance Committee, while Hayden will serve on the Operations and Technology Committee and Risk Committee.

What is the significance of the new Board appointments for Freddie Mac?

The appointments are expected to enhance Freddie Mac's strategic direction with the addition of expertise in key areas like mortgage finance and risk management.