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Freddie Mac Names Raymond G. Romano as Chief Credit Officer

McLean, VA – Freddie Mac today named Raymond G. Romano as the company's chief credit officer, a position that is responsible for enterprise-wide credit risk management activities.

Romano has served as senior vice president of credit risk oversight since he joined the company in 2004. In September 2008, Romano also assumed the role as acting chief credit officer while the company conducted a nationwide search for the position.

"Managing credit effectively is the cornerstone of this company, particularly in a turbulent economy," said Freddie Mac CEO David Moffett. "Ray has really demonstrated leadership at Freddie Mac, and I can think of no one better to serve as our single point of accountability on credit decisions."

Romano will report to Freddie Mac CEO David Moffett and will lead the company's credit risk management efforts including credit policy, counterparty credit risk management, and loss forecasting.   Prior to joining Freddie Mac Romano served as senior vice president and chief credit officer and in other executive positions at different financial institutions including North American Mortgage Company, Dime Savings Bank of NY, and with Citicorp's Investment Bank.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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