Is Donald Layton preparing to leave Freddie Mac? Bloomberg is reporting that the powers that oversee the government-sponsored enterprise, the Federal Housing Finance Agency and the Department of the Treasury, are preparing for a potential exit from the CEO.
Bloomberg’s Elizabeth Dexheimer reports that officials from the Treasury and the FHFA are preparing to “fill a second possible vacancy atop a U.S.-controlled mortgage giant,” – the other being the pending exit of Fannie Mae CEO Tim Mayopoulos.
From the article:
Officials at Treasury and the Federal Housing Finance Agency have begun discussions on finding a successor for Freddie Mac Chief Executive Officer Donald Layton, who they expect will announce that he wants to step down in the coming months, according to people familiar with the matter who asked not to be named because the discussions are private.
The search for a replacement is likely to involve the company’s board as well as input from Washington policy-makers. No timing has been given for an announcement of Layton’s plans.
“As we’ve said consistently, when we are ready to announce something, we will,” said Freddie spokesman Christopher Spina. A spokeswoman for FHFA declined to comment. A spokeswoman for Treasury didn’t respond to a request for comment.
Layton became Freddie’s CEO in 2012, joining the GSE from online brokerage E*Trade Financial, where he served as CEO in 2008 and 2009.
HousingWire reached out to Freddie Mac for comment and will update this article, should it respond.
