Freddie Mac has a new CEO. Michael DeVito, formerly executive vice president, head of home lending at Wells Fargo, will take the lead at the GSE on June 1. He replaces David Brickman, who left the GSE on Jan. 8. Read all about that here.
In addition, Fannie Mae has announced the replacement for Andrew Bon Salle, formerly EVP and head of single-family, who left at the end of 2020. Fannie Mae has appointed Malloy Evans to that position, effective immediately. Evans was previously SVP and chief credit officer for Fannie Mae's single-family business. Read about that one here.
Both the GSEs have seen an exodus of their leadership in the last year, especially after the election. In the case of Fannie Mae, apart from Bon Salle, departures include John Forlines, Jean Weng and Desmond Smith, Andrew Peters and Noelle Lipscomb.
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