A growing number of worker departures at Freddie Mac and Fannie Mae is making it difficult to manage the companies and the $5 trillion mortgage business they operate, some executives at the two organizations contend, according to the Wall Street Journal.
In the past two years, “dozens” of senior managers have left the two institutions. The latest departure came Monday, when Anthony Renzi, who runs Freddie’s single-family mortgage business, announced he was leaving at the end of the month.
Freddie Mac’s CEO Charles E. Haldeman Jr. told the Journal that congressional attacks on Freddie, regulators’ second guessing, and the lack of a plan for the future of the company have “made it much more difficult to operate as a business.” Both Haldeman and the chief executive of Fannie have said that they plan to leave this year.
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