Robert Van Order, Freddie Mac's chief economist since 1987, has been named to the newly created position of chief international economist. Frank Nothaft, Freddie Mac's deputy chief economist, will take over as chief economist. In the new post, Dr. Van Order will focus on international financial issues affecting the government-sponsored enterprise and advise foreign organizations on "the benefits of a secondary mortgage market," Freddie Mac said. Before joining the GSE, Dr. Van Order served as director of the Housing Finance Analysis Division at the Department of Housing and Urban Development from 1982 to 1985, as a HUD economist from 1976 to 1982, and as visiting professor of real estate at the Graduate School of Management at the University of California, Los Angeles. Dr. Nothaft previously served as an economist with the Federal Reserve Board. Freddie Mac's website address is http://www.freddiemac.com.
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Only 20% of the Top Producers in the National Mortgage News survey were under 40, while almost half were between 41 and 50, and 30% even older.
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The move builds out a fee-based resolution for certain loan flaws piloted in 2024, which was set for a full 2025 rollout prior to changes in federal leadership.
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The company maintained its guidance for the year as the bottom line returned to the black in the first quarter, officials reported in an earnings call.
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Citizens Financial Group's promotion of Brendan Coughlin to company president comes at the same time as CFO John Woods prepares to leave for State Street. Both executives have been viewed as potential successors to CEO Bruce Van Saun.
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The wholesale lender dubbed the development a "huge win" for itself and the broker community.
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