Risk Expert Leaving Freddie Mac Board

Freddie Mac board member Linda Bammann is stepping down after serving on the GSE’s board of directors for nearly five years.

A former JPMorgan Chase deputy chief risk officer, Bammann joined Freddie’s board in December 2008, a few months after the mortgage giant was placed in conservatorship.

"Linda has been a thoughtful and highly effective leader on Freddie Mac's board of directors during an extremely challenging time for the company," said Freddie chairman Christopher Lynch.

“Her tremendous risk expertise and knowledge of the financial markets have been invaluable to us all. I am enormously grateful to her for her service and wish her continued success in her future endeavors,” Lynch said.

Freddie Mac has recovered from the housing crash as it is now profitable again.

Bammann recently notified the company of her intentions to leave and pursue other business interests. Her resignation is effective July 31.

"I am particularly appreciative of the assistance Linda provided to me as the new CEO of Freddie Mac," said Freddie chief executive Donald Layton. "She is a smart and talented executive whose contributions will be greatly missed."