McLean, VA, United States (AHN) – Freddie Mac Chief Executive Charles Haldeman Jr. and non-Executive Chairman John Koskinen will step down from their posts sometime in 2012, the regulator overseeing the mortgage giant announced on Wednesday.

Board member Christopher Lynch will replace Koskinen. Other directors who will also leave are Robert Glauber and Laurence Hirsch.

The changes in top management are indicator or more changes in Freddie Mac as Washington redesigns the mortgage finance giant to play a bigger role in a new plan announced this week by President Barack Obama to help underwater homeowners refinance their mortgages at lower rates.

Haldeman had served as chief executive since July 2009. In the case of Koskinen and Glauber, their departure from Freddie Mac is because they have reached mandatory retirement age.

Freddie Mac and another mortgage giant, Fannie Mae, are under the supervision of the Federal Housing Finance Agency because of the infusion by Washington of over $130 billion during the financial crisis of 2008.

Freddie Mac has not posted a yearly profit since 2006 and is at loggerheads with large U.S. banks because of its demand for billions of dollars in refunds for defective mortgages the company purchased from the banks during the housing bubble.

View full post on Construction And Property Stories