Freddie Mac has announced that David Lowman will step down as executive vice president of the company’s single-family business next month.
After six years of serving as the head of Freddie Mac single-family division, Lowman has decided to resign from his position. During his leadership, Lowman oversaw affordable housing efforts and relationships with sellers, as well as developed several technological advancements.
“With over six years at Freddie Mac, I want to take advantage of opportunities presented by the rapidly evolving mortgage finance marketplace and its adjacent industries,” Lowman said. “It’s been a great run, and I would like to thank my colleagues and my team for their many contributions to the overall growth and success of our business.”
Donna Corley, Freddie’s senior vice president and single-family chief risk officer, will be replacing Lowman as interim head of single-family.
In her current role, Corley manages a team of 500 employees who are tasked with analyzing, modeling, and managing the risks of Freddie Mac’s single-family business.
The government-sponsored enterprise said that it would consider both external and internal candidates, including Corley, for Lowman’s permanent replacement.
“Donna Corley’s record of accomplishment at Freddie Mac spans more than 24 years, with deep expertise in risk management, capital markets and pricing,” said Freddie Mac Chief Executive Officer David Brickman. “I am confident she will lead this critical business line skillfully. Freddie Mac will perform a thorough search for a highly-qualified permanent replacement to help usher in the next chapter at Freddie Mac.”