Freddie Reorganizes Single-Family Group

Freddie Mac has reorganized its Single-Family Securitization Group into five divisions to provide "greater integration" of its single-family operations, the government-sponsored enterprise has announced.The group will now consist of the following divisions: Marketing, Sales and Production; Risk Assessment and Model Development; Customer Services and Control; Investor and Dealer Services; and Portfolio Management. The Marketing, Sales and Production division will integrate functions previously performed in the Loan Prospector and Seller divisions. Executive vice president John Fisk, who heads the Single-Family Securitization Group, will manage the marketing division until a senior vice president is recruited. The risk assessment division will be headed by Don Bisenius, a senior vice president who was formerly vice president of mortgage credit policy. Michael C. May, a senior vice president who previously headed the Loan Prospector division, will lead the customer services division. Investor and Dealer Services, Freddie Mac's securitization arm, will continue to be led by senior vice president Patricia Dodson. The new Portfolio Management division, which will focus on "rebalancing Freddie Mac's portfolio of credit risk," will be headed by senior vice president Henry Cassidy, formerly vice president of Single-Family Risk Management. Freddie Mac also announced that David Andrukonis, formerly senior vice president of the Seller division, will assume the new post of chief credit officer, and that Steve Hopkins, the GSE's senior vice president and national sales director, plans to resign to pursue other interests. Freddie Mac's website address is http://www.freddiemac.com.