Freddie Mac Names Jerry Weiss EVP, Chief Administrative Officer

MCLEAN, Va., Aug. 2 /PRNewswire-FirstCall/ -- Freddie Mac (OTC Bulletin Board: FMCC) today named Jerry Weiss to the newly created position of chief administrative officer (CAO). Weiss will continue to serve as the company's chief compliance officer and oversee the Compliance, Economics and Strategy, Regulatory Affairs and Mission divisions. As CAO, he will also manage two additional functions – External Relations and Human Resources.  Weiss will continue to report directly to CEO Charles E. "Ed" Haldeman, Jr., as a member of Freddie Mac's management committee.

"Creating a CAO position aligns functions that position Freddie Mac as an effective means of support for our housing mission and responsible stewards of taxpayer funds," said Haldeman. "Jerry is a talented and knowledgeable executive and is well suited to manage these multiple responsibilities as the company continues to support the nation's housing recovery in conservatorship."

Weiss manages Freddie Mac's regulatory affairs and he serves as the company's senior executive liaison to the Federal Housing Finance Agency and the U.S. Department of the Treasury. In 2009, Weiss gained responsibility for overseeing the company's activities related to the President's Making Home Affordable Program (MHA), including Freddie Mac's MHA – Compliance organization, which manages the compliance review function of the MHA mortgage loan modification program.

Weiss joined Freddie Mac in 2003 and has more than 25 years experience in the financial services industry. Prior to joining Freddie Mac, Weiss was global head of compliance at Merrill Lynch Investment Managers for 13 years. From 1982 to 1990, Weiss was with a national law practice in Washington, D.C., where he specialized in securities regulation, investment management and corporate finance matters. Weiss graduated Phi Beta Kappa with a B.A. from the State University of New York at Binghamton and earned his law degree from The George Washington University.

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.  www.FreddieMac.com

SOURCE Freddie Mac