With much still left ambiguous about the future of the government-sponsored enterprises (GSEs), another uncertainty was thrown into the mix with the resignation of Freddie Mac CEO David Brickman.

 
Brickman

Freddie Mac announced in a Friday filing that Brickman notified its board of directors on November 9 that he intended to step down from his post. Brickman, who had been with Freddie Mac for more than 21 years, had served as the organization’s CEO since July 1, 2019. Prior to that, he was the company’s president and had a five-year tenure as the head of Freddie Mac Multifamily.

There was no official reason given by Freddie Mac for Brickman’s departure, though a spokesman told the Wall Street Journal that the move was “a personal decision.”

Brickman’s resignation will be effective January 8. Meanwhile, Michael T. Hutchins, who currently serves as executive vice president in charge of Freddie’s investments and capital markets, has been appointed interim president of the company while Freddie Mac’s board kicks off a search for a new CEO.

Hutchins joined Freddie Mac in 2013 after serving as co-founder and CEO of financial services firm PrinceRidge since 2007.