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Freddie Mac Announces New Head of Pricing and Execution in the Single-Family Business

Timothy Kitt Named Senior Vice President

MCLEAN, Va., Oct. 03, 2018 (GLOBE NEWSWIRE) --  Freddie Mac (OTCQB: FMCC) today announced the promotion of Timothy Kitt to Senior Vice President, Head of Pricing and Execution in its Single Family business. Kitt, who has led the Pricing and Analytics team in Single-Family Portfolio Management for nearly four years, recently added costing analytics and all seller-facing Credit Risk Transfer (CRT) efforts to his responsibilities. 

“Tim’s leadership has been instrumental in developing innovative customer-focused pricing and execution strategies to meet client business needs while successfully balancing portfolio growth, profitability and affordable lending targets,” said Dave Lowman, Executive Vice President, Single-Family, Freddie Mac.

Tim joined Freddie Mac in 2015 bringing with him deep experience in single-family mortgage capital markets. Prior to joining Freddie Mac, Tim held leadership positions focusing on portfolio management, asset sales/securitization and structured finance at Wells Fargo, GMAC/Ally and Sallie Mae. He earned a Bachelor’s of Science degree in Finance from the University of Virginia’s McIntire School of Commerce.

“Tim not only has the ability to create and implement strategy to meet our profitability, growth and performance goals, but also to interact successfully with our clients to understand their needs,” said Kevin Palmer, Freddie Mac Senior Vice President of Single-Family Portfolio Management, Costing and Analytics.

Palmer added, “Tim’s knowledge, expertise and leadership qualities, as well as his ability to build strong partnerships both inside and outside of Freddie Mac, are contributing factors to his ongoing success.”

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, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT: Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com