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The Federal Housing Finance Agency (FHFA) continues to make leadership changes at the board and executive levels of Freddie Mac and Fannie Mae.
Capital One multifamily finance executive Grace Huebscher, who served as Chair of the Risk Committee and a member of several other committees, resigned from Freddie Mac‘s board on March 24, according to TipRanks.
Subsequently, on March 28, she was succeeded by Michael Parrott, according to the GSE’s recent securities filing and an uncredentialed new board member listing. Parrott will act as Conservator on the Board.
The same filing named Ralph “Cody” Kittle, a partner at investment firm RenWave Kore, to the Audit Committee of the Board of Directors of Freddie Mac.
The leadership changes follow a string of reshuffling efforts made by recently appointed FHFA Director Bill Pulte.
Just two weeks ago, it was announced that Pulte was making moves to trim the FHFA staff and divisions from the roster. Per a recent report from Government Executive, the FHFA already closed two of its departments, which resulted in a 10% cut of its workforce, which includes the FHFA’s Research and Statistics Division and its Division of Public Interest Examination (DPIE).
Following that news, Freddie Mac’s CEO Diana Reid, COO and head of HR, plus the FHFA’s COO Gina Cross and head of HR Monica Matthews were fired on March 20. Freddie Mac President Michael Hutchins was named interim CEO.
